Hinkal, a San Francisco, CA-based multi-chain privacy layer for confidential decentralized finance (DeFi) transactions, raised $1.4M in funding.
The round was led by SALT Fund, with participation from Draper Associates, SNZ and Peer VC.
The company intends to use the funds to bring liquid funds, VCs, family offices and founders of projects to its confidential infrastructure.
Founded by Giorgi Koreli and his Ph.D. brother, Nika Koreli, Hinkal provides a solution for venture capital and founding teams looking to liquidate vested tokens in a private and secure environment. These stakeholders have traditionally struggled with token vesting and liquidations, as this process often results in adverse price impacts that dilute net settlement and sends mixed messages to the community. With Hinkal, VCs and teams can receive any vested token directly into a private address and liquidate privately without these impacts to the market. It is a ZK-based solution that provides a private smart contract wallet experience, allowing users to participate in their favorite dApps directly from their private addresses without the need to withdraw assets for obfuscation.
Hinkal requires KYC(B) (Know Your Customer/Business) verification for users to prevent illicit parties from using the protocol while simultaneously providing a streamlined experience via reusable attestations at exchanges like Coinbase and Binance. Audited by major firms including Quanstamp and Zokyo, the company provides a secure trading experience and real-time threat mitigation with Hexagate.
The raise follows the close of Hinkal’s $4.1M seed funding round in November of 2023.
FinSMEs
29/04/2024