Web3 has taken huge strides towards a fully self-sustaining ecosystem of peer-to-peer transactions and frictionless finance this year. In order to develop a healthy web3 economy, new services like Automata Network will help fulfill the wide list of market demands like private computation. Automata Network is described as the last piece of the web3 puzzle, providing privacy, high assurance and frictionless computation.
Automata has just completed a $2.4 million fundraising round following their last seed round which raised $1 million in March. The latest funding round was led by large investors in the crypto space including KR1, Jump Trading, and IOSG Ventures. With a specific focus on increasing privacy in the web3 economy, investors showed a lot of confidence in Automata’s potential to emerge as one of the top privacy solutions for dApps.
The co-founder and managing directors of one of the investors, Keld van Schreven of KR1, said: “From the team’s technical progress to partnerships made one after