The Tools for Humanity team, which includes the developers behind Sam Altman’s startup Worldcoin, has raised $115 million in a Series C funding round led by Blockchain Capital.
Congratulations to World App developers @tfh_technology! The growth & success of our contributors is an important part of Worldcoin’s path towards decentralization. https://t.co/i6fWpv68U2— worldcoin (@worldcoin) May 25, 2023
Other investors include Andreessen Horowitz, Bain Capital Crypto and Distributed Global.
According to the company, the funds will help accelerate the development and development of Worldcoin, as well as the commission-free World App wallet.
“As we enter the age of AI, it is imperative that people can maintain their privacy by verifying their identity. At the same time, we guarantee that everyone will be able to receive the financial benefits provided by artificial intelligence technologies,” said Alex Blania, head of Tools for Humanity.
Earlier it was reported that the head of OpenAI Sam Altman is in “preliminary negotiations” to raise $100 million for his crypto startup.
In 2021, Andreessen Horowitz, Coinbase Ventures, Digital Currency Group and a group of business angels, including FTX founder Sam Bankman-Fried and LinkedIn co-founder Reed Hoffman, participated in the Worldcoin $25 million investment round.
The core product of Worldcoin is the World ID protocol, which is based on zero-knowledge proofs. With the help of development, it is possible to pass verification using the retina of the eye, while not sacrificing anonymity.
Recall that in May, users from China who do not have access to the application application began to buy biometric data from third parties in African countries in order to receive registration bonuses. The company promised to take the necessary measures to combat the black market.