Notebook Labs Completed $3.3M Seed Round
Notebook Labs, a zero-knowledge identity infrastructure layer that allows Web3 protocols to establish Sybil-resistant log-ins enabling users to enjoy anonymity and privacy, has completed a $3.3 million in a seed funding round.
Notebook Labs has completed a $3.3M in a seed funding round, led by Bain Capital Crypto. With participation from Y Combinator, Soma Capital, Abstract Ventures, Pioneer Fund, NFX, Very Serious Ventures Partner Chase Adams, Algofi Co-Founder Owen Colegrove, and Landeed Founder and CEO Sanjay Mandava.
Overview of Notebook Labs
Notebook, created in 2022 by a group of Stanford University undergrads during TreeHacks. To solve the Web3 identity dilemma by allowing Web3 protocols to trust their users without needing users to surrender their anonymity.
Furthermore, Notebook employs zero-knowledge cryptography to create a new paradigm for identity verification. Giving users complete control over their data while maintaining their privacy. Notebook’s technology provides Web3 protocols with a simple Sybil-resistant login infrastructure. That protects them from attackers and bots while also allowing them to function normally.
The raised funds will allow Notebook to expand its development staff and scale its world-class technological infrastructure.
Management Quote
“Until now, blockchain users have been required to identify themselves with wallet addresses. Which has not only compromised their privacy, but has also subjected the blockchains themselves to Sybil attacks. This has led many people to oppose putting their sensitive data on-chain for the sake of decentralization and has subsequently constrained DeFi’s growth,” said Solal Afota, Co-Founder of Notebook Labs. “Notebook is paving the way towards mass adoption of DeFi by giving Web3 users the privacy and anonymity they deserve, while also enabling more secure logins that will make protocols safer.”
“Our team at Notebook is excited to launch a solution that we believe will be critical to the mainstream adoption of Web3,” added Nathaniel Masfen-Yan, Co-Founder of Notebook Labs. “Notebook’s technology is design to help significantly improve a number of applications. From enabling lending protocols to build credit scoring systems that offer lower-collateralized loans to allowing DAOs to check the identity of their users in a privacy preserving way.”
“Notebook aims to help Web2 users and platforms transition to Web3 through seamless user and developer experiences,” said Dhruv Mangtani, Co-Founder of Notebook Labs. “indeed, Web3 has the potential to transform how users and organizations interact with each other. We thank our dedicated investors for their support as we seek to catalyze the Web3 movement. We can’t wait to begin introducing Notebook’s technology to users and protocols across the world.”
“Zero knowledge proofs are critical to Web3’s privacy and scalability efforts. We are thrilled to partner with the Notebook team as they empower protocols and users to realize the full potential of this technology,” said Lydia Hylton, Partner at Bain Capital Crypto. “We look forward to continuing to support Notebook’s strong team. As it creates a path for exciting development and interconnectivity in the services offered over the blockchain. While retaining decentralization and anonymity for users.”
About Notebook Labs
Notebook is the first identity layer that is completely private and works across chains. Notebook can be use to improve DeFi, governance, and airdrop security. Specifically, it allows creators and communities to operate Sybil-resistant airdrops. DAOs can validate the humanity of participants and collect their credentials. Notebook founded by a group of Stanford mathematicians and computer scientists with extensive experience.
SOURCE
https://www.businesswire.com/news/home/20221027005745/en/Stanford-Sophomores-Raise-3.3-Million-Seed-Round-for-Zero-Knowledge-Identity-Protocol-Notebook-Labs
