By
Tolu Ajiboye
April 19th, 2024
Oasis Labs has managed to get venture capital funding from many prominent companies and hedge funds to carry out its new tech startup incubator project.
As it has been recently announced by Oasis Labs, the startup has entered into a partnership with a16zcrypto, Accel, Binance Labs, Pantera Capital and Polychain Capital with a view to launch a first-of-its kind program. The Oasis Startup Hub will be focused on creating privacy-first computing on blockchain. In the framework of the project, innovative developers will have a chance to get recommendations and instructions from leading investors, to receive hands-on technical support and early access to cutting-edge technology.
Thanks to these opportunities, developers will be able to create applications utilizing the security, privacy and scalability benefits of Oasis Labs’s decentralized protocol. The participants of the program will work with experienced engineers from Oasis Labs through working sessions, office hours and private events, and communicate with outstanding investors who have deep understanding of the current market conditions.
Speaлimg about their new program, Dr. Dawn Song, CEO of Oasis Labs, said:
“We’ve seen strong interest in our private testnet from companies and developers who want to build scalable applications that protect user data and put privacy first–and are constrained by existing platforms. We’re encouraged by the diversity and volume of application developers who share our values and validate our approach. We designed the Oasis Startup Hub to bring experts together for invaluable interactions around how to design, build and deliver exciting new applications.”
The main aim of the Oasis Startup Hub is to create a constantly expanding ecosystem of developers, investors, technologists and business leaders that are interested in realizing their developments on the base of Oasis’ platform. The idea of the project was supported by a number of investors.
Jake Flomenberg, partner at Accel, said:
“As high-profile privacy failures proliferate, the value of applications that put data protection at the heart of operations will only continue to soar. Oasis is taking an important step toward building a vibrant community committed to addressing serious issues in today’s computing landscape. Together, we’re helping unleash the power of data through innovative applications which responsibly protect privacy.”
Oasis Labs has already welcomed a number of clients on board. Though their names haven’t been revealed, it is already known that they work on the development of application that require an extremely high level of privacy protection.
At the current moment, the row of these applications may include such areas as decentralized credit scoring and distributed data marketplaces for artificial intelligence, nevertheless, startups working in other spheres also have an opportunity to join the platform.
As CoinSpeaker has already reported, this year Oasis Labs made headlines with its announcement of having raised $45 million from major investors, including the very same group comprised of a16zCrypto, Pantera Capital, Accel, and Binance. The company has managed to win such attention thanks to its ideas to use the potential of cloud computing to provide increased security, privacy, performance and scalability of the network.