Enphyr, a Layer 2 solution built on the Ethereum network, has successfully secured $1 million in seed funding at a valuation of $10 million in a notable development aimed at fortifying data privacy and augmenting blockchain capabilities.

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The funding round was spearheaded by Wavelab Ventures, with the active participation of numerous distinguished private investors who have been instrumental in supporting and advancing various projects and innovations within the crypto space. Enphyr expressed satisfaction in attracting substantial interest, managing to close its inaugural seed round within a brief timeframe. The team conveyed heartfelt gratitude to the esteemed investors, interpreting their participation as a resounding vote of confidence in the vision and model of the protocol.

The infusion of capital from this recent round positions Enphyr to expand its team, explore strategic partnerships, and bolster its engineering initiatives, thus expediting the realization of its roadmap to enable additional use cases through the utilization of the protocol infrastructure.

The success of the funding wasn’t solely financial, as Enphyr also gained invaluable logistical support from esteemed partners. The project welcomed a diverse cohort of entrepreneurs, builders, and strategists from the DeFi space who contributed to and participated in this funding round. The team is optimistic that, with their backing, networks, and capabilities, the project will experience robust development and growth.

Enphyr asserts that it transcends being just a protocol; it represents a commitment to data security, privacy, and efficiency. The belief, shared by both the team and investors, is that Enphyr will serve as the gateway connecting blockchain to real-world commercialization. The aim is to empower developers to build next-generation applications while adhering to regulatory compliance and safeguarding the data of individuals and organizations.

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Step into the realm of Enphyr’s commitment to fortifying data security and privacy! Join the vibrant community on Telegram and be a part of shaping a secure digital future.

Official Links

Website: https://enphyr.com

Twitter: https://twitter.com/enphyrdao

Telegram: https://t.me/enphyr

Medium: https://medium.com/@enphyr

Github: https://github.com/enphyr


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