Opacity has successfully raised $12 million in a Seed funding round to revolutionize data management by enabling users to securely port their web2 data to onchain environments through its innovative Verifiable Data Network.

Information on the Target

Opacity is a groundbreaking platform dedicated to transforming how data is managed in the web2 and web3 ecosystems. Founded by Hersh Patel, Opacity aims to address the longstanding issue of data verification and portability, providing a solution that allows users to confidently bridge their data from existing web2 applications to onchain environments. The platform is launching the Verifiable Data Network (VDN), a novel protocol designed to empower users with control over their personal data while ensuring its confidentiality.

Recently, Opacity raised $12 million in a Seed funding round, led by us alongside Breyer Capital and backed by several notable investors including a16z CSX, Finality, Bodhi Capital, and EV3. This funding will accelerate the development of features that enhance user autonomy by offering a structured framework for data interoperability across various online platforms.

Industry Overview in the Target's Specific Country

The current landscape of the data storage and privacy industry is heavily influenced by a handful of dominant players controlling a substantial amount of consumer data. This centralized model is increasingly being challenged by emerging technologies ai