Nym Technologies raises $13M to develop surveillance-evasion platform

Nym Technologies raises $13M to develop surveillance-evasion platform

European security startup Nym Technologies has announced a $13 million funding round coordinated by renowned crypto investor Andreessen Horowitz, or a16z, and further participated by a venture capital firms Digital Currency Group, Tayssir Capital, Huobi Ventures, Hashkey and Fenbush.

This third funding round represented their highest raise to date, following seed funding of $2,5 million in May 2019 and Series A raise of $6 million in July 2021 — Polychain Capital led the latter of which — according to financial data from Crunchbase. 

Nym Technologies is an open-source, decentralized infrastructure that aims to surpass the typical third-party privacy services offered on virtual private networks (VPNs) or Tor networks, by utilizing mix network protocols to obscure individuals’ metadata footprint, and in turn, evade the burgeoning influence of mass

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