- Elusive got $3.5 million in funding from LongHash and Staking Facilities Venture.
- LongHash Ventures plans to financially support Elusiv in its mission.
- Elusiv plans to build the company as the core of the blockchain-based ecosystem.
Elusiv, a privacy protocol-compliant startup, received a $3.5 million venture funding round from LongHash Ventures and Staking Facilities Ventures.
Elusiv wants to establish itself as the core of the blockchain-based financial ecosystem. It provides low-trade-off compliance solutions that preserve safety while maintaining the privacy of regular users and merchants. Standard transactions will become private while also allowing users to pick and select which transactions they want to make publicly using Elusiv.
Wei Shi Khai, Chief Operations Officer and General Partner at LongHash Ventures stated that privacy is a valuable human right to safeguard and has been a chronic problem in Web3. Elusiv is in a fantastic position to solve this market with its scalable and user-friendly connectors while keeping a realistic approach to compliance, which excites us at LongHash Ventures. As more societal and identity use cases develop in the future, we envision privacy as a crucial modular component in the multi-chain infrastructure theory.
Staking Facilities Ventures Venture Partner Louis Bauer stated that “Elusiv is laying the foundation for more delicate transactions to take place on-chain. Legally allowing privacy so blockchains can someday be more widely used. We are thrilled to support such a driven and enthusiastic team as they help the blockchain ecosystem develop.
Elusiv is also planning to produce “Elusiv Virtual Machines” which will allow developers to use Zero-Knowledge Evidence for their apps without stressing the intricate encryption required. It implies that programmers could create their ZK apps in a shorter time and at a lower cost.