Rarimo, a nil-knowledge identity protocol, has secured $2.5 million in funding, with backing from Ethereum co-founder Vitalik Buterin.
With $2.5 million in new funding, interoperability protocol for decentralizing social identity Rarimo now wants to flee up its pursuit of a decentralized digital identity model as web3 moves towards extra person-owned methods.
Asserting Rarimo’s Imaginative and prescient Spherical!!
This founder-most efficient develop has united leaders around Rarimo’s identity model
Merchants consist of @VitalikButerin @keoneHD @nickwh8te @BrianRetford @StefanDGeorge @dlubarov @apruden08 @Zac_Aztec @_ArnaudS_ & @rel_zeta_tech https://t.co/zfHGl3VyYs
— Rarimo (@Rarimo_protocol) November 27, 2024
In an X thread on Nov. 27, Rarimo highlighted its address zk-wrapping proof-of-personhood concepts, enabling customers to own a look at foremost info about their identity without disclosing beefy private foremost aspects.
“Rarimo’s identity model of zk-wrapping present proof-of-personhood concepts and building capabilities on top, allowing customers to indicate foremost info about who they’re without totally disclosing their identity, is a promising technique to total both objectives on the same time.”
Vitalik Buterin
Rarimo to amplify web3 identity ecosystem
The timing of the funding is foremost as Rarimo plans to toughen accessibility by migrating to Ethereum as a roll-up, with the migration anticipated to occur in early 2025, even though no staunch date has been confirmed.
Additionally, Rarimo will continue to originate its self-custody pockets known as RariMe — viewed as a rival to Worldcoin’s identity solutions — which permits customers to store private knowledge privately and generate zero-knowledge proofs for identity verification.
Founded in 2021, Rarimo targets to kind out interoperability and liquidity issues all over blockchain-essentially essentially based identity methods. Its carrier provider, Rarilabs, raised $10 million in a Series A spherical in 2022, valuing the firm at $100 million.
