NextBlock invests $3 million in Soda Labs blockchain privacy startup

Investment and Expansion Plans

Soda Labs, a blockchain privacy startup, has secured $3 million from NextBlock to scale its programmable privacy infrastructure across public blockchains. The funding will help Soda Labs expand its validator network, grow its team, and pursue integrations with financial infrastructure providers.

Key Features and Benefits

Soda Labs' Bubble platform allows users to conduct transactions, manage treasuries, make payments, and execute smart contracts without publicly revealing balances, transaction amounts, counterparties, or trading strategies. The platform is powered by garbled-circuit Multi-Party Computation and has processed over 100 million transactions.

Market Expansion and Growth

Soda Labs plans to use the funding to expand its validator network and blockchain coverage, grow its team, and pursue integrations with banks, payment companies, and tokenization platforms. The company is also working on several undisclosed pilots with financial and infrastructure organizations, with the goal of turning those projects into production deployments.

Future Outlook

Soda Labs' CEO, Avishay Yanai, stated that the funding will allow the company to take its technology from pilots to production. The company's architecture can offer 10 to 100 times higher throughput and 100 to 1,000 times lower costs per transaction than existing alternatives.