Humanity Protocol, the decentralized identity platform, has raised $20 million in funding. It was led by Pantera Capital and Jump Crypto.
The fresh financing brings the fully diluted valuation of Humanity Protocol to $1.1 billion according to a company release.
It builds infrastructures for humans to verify their digital presence to reduce the number of bots, deepfakes, and other frauds in online spaces. People can use the platform to scan their palms and authenticate their blockchain-based digital identity while maintaining control over their personal data.
The funds will be used for scaling operations, integrating itself into other web3 platforms, and building out Proof of Humanity and Human ID.
“At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own,” said Humanity Protocol founder Terence Kwok. “This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm.”
In May 2024, Humanity Protocol raised $30 million in funding led by Kingsway Capital to bring the firm’s total valuation to $1 billion, The Block previously reported.
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