Enphyr secures $1 million in seed funding at $10 million valuation

In a significant move towards safeguarding data privacy and enhancing blockchain capabilities, Enphyr, a Layer 2 solution that is built on the Ethereum network, has secured a $1 million in seed funding round at a $10 million valuation.

Waveslab Ventures led the round, with participation from numerous prominent private investors, who have backed and contributed to the advancement of numerous projects and innovation across the crypto space.

We are thrilled to have attracted considerable interest, and successfully closed our first seed round funding within a short time frame. We express our sincerest gratitude to our esteemed investors as it underscores a strong vote of confidence from them towards the protocol’s vision and model.

With this latest backing, it will provide us the necessary capital to grow our team, explore strategic partnerships, as well as enhance our engineering initiatives to accelerate our roadmap to facilitate additional use cases through the utilization of our protocol infrastructure.

It was not only a financial success as we also garnered invaluable logistics support from our esteemed partners. We welcome a diverse group of entrepreneurs, builders, and strategists from the DeFi space who also participated in this funding round to join us in our journey. We are confident that, with their support, network and capabilities, it will pave the way for the project’s robust development and growth.

We believe — like our investors — that Enphyr will be the gateway that connects blockchain to real-world commercialization, pioneering developers to build next generation applications whilst maintaining compliance with regulations, and safeguarding the data of individuals and organizations.

Enphyr transcends being just a protocol; it’s a commitment. A commitment to data security, privacy, and efficiency. Join us by getting involved in the Enphyr ecosystem and engaging with our community on Telegram!