European security startup Nym Technologies has announced a $thirteen 1000000 funding circular coordinated by renowned crypto investor Andreessen Horowitz, or a16z, with further participation by venture uppercase firms Digital Currency Group, Tayssir Upper-case letter, Huobi Ventures, Hashkey and Fenbush.

This third funding circular represented their highest raise to engagement, post-obit seed funding of $2.5 1000000 in May 2022 and a Series A enhance of $half dozen million in July 2022, led by Polychain Capital, according to fiscal data from Crunchbase.

Nym Technologies is an open-source, decentralized infrastructure that aims to surpass the typical third-party privacy services offered on virtual individual networks (VPNs) or Tor networks, past utilizing mix network protocols to obscure individuals' metadata footprints, and in turn, evade the burgeoning influence of mass surveillance on the web.

Developers can also utilize the infrastructure to build applications with an inherent focus on anonymity and privacy-centric online experiences.

The Nym squad has outlined plans to allocate the funding to expand their community and their product workforce. The team expects the launch of their decentralized mixnet mainnet, as well every bit a tokenomic model for the NYM asset, in the near time to come.

Related: DPN vs. VPN: The dawn of decentralized spider web privacy

Digital Currency Group head of platform Samantha Bohbot shared some insight into why DCG identified this firm equally one in which to invest:

"NYM has built a first-of-its-kind privacy layer, capable of protecting against even the fiercest adversaries, and powered by a crypto-economic incentive structure. We envision its technology setting a new standard in user privacy beyond the internet."