PANews reported on November 12 that according to The Block, ZK coprocessor Brevis Network completed a $7.5 million seed round of financing, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey and several undisclosed angel investors. Brevis began raising funds for this round of financing in June and completed it in September; this round of financing was conducted in the form of token issuance, but refused to disclose the valuation after financing.
Brevis is a ZK coprocessor or computing network designed to improve the scalability of blockchains using ZK proofs. By enabling complex tasks (such as data processing) to be completed off-chain and only sending verified proofs back to the blockchain, Brevis aims to reduce the workload of the blockchain, increase speed and reduce costs. Brevis' ZK coprocessor is currently in the Beta mainnet stage; Brevis' "SpaZK Verifiable AI" product is still under active development and will be released in future stages.
