Cryptocurrency chip company Ingonyama has completed a $21 million seed round financing, led by IOSG Ventures and others.

ChainCatcher news, the encryption chip company Ingonyama announced that it has completed a $21 million seed round financing, led by IOSG Ventures, Walden Catalyst Ventures, and Geometry, with participation from RockawayX, BlueYard Capital, Samsung Next, StarkWare, IOBC Capital, Maven11, and Mirana Ventures.

Ingonyama is a next-generation semiconductor company designing accelerators for advanced cryptography. The technology stack accompanying the Ingonyama accelerator will enable programmers to build increasingly complex applications while leveraging privacy and scalability facilitated by ZKP.