Rarimo, a zero-knowledge id protocol, has secured $2.5 million in funding, with backing from Ethereum co-founder Vitalik Buterin.
With $2.5 million in new funding, interoperability protocol for decentralizing social identity Rarimo now desires to speed up its pursuit of a decentralized digital id mannequin as web3 strikes towards extra user-owned techniques.
In an X thread on Nov. 27, Rarimo highlighted its deal with zk-wrapping proof-of-personhood strategies, enabling customers to confirm essential info about their id with out disclosing full private particulars.
“Rarimo’s id mannequin of zk-wrapping present proof-of-personhood strategies and constructing purposes on prime, permitting customers to show essential info about who they’re with out totally disclosing their id, is a promising technique to attain each objectives on the similar time.”
Vitalik Buterin
Rarimo to broaden web3 id ecosystem
The timing of the funding is essential as Rarimo plans to boost accessibility by migrating to Ethereum as a roll-up, with the migration expected to happen in early 2025, although no actual date has been confirmed.
Moreover, Rarimo will proceed to develop its self-custody pockets known as RariMe — considered as a rival to Worldcoin’s id options — which permits customers to retailer private knowledge privately and generate zero-knowledge proofs for id verification.
Based in 2021, Rarimo goals to sort out interoperability and liquidity points throughout blockchain-based id techniques. Its service supplier, Rarilabs, raised $10 million in a Collection A spherical in 2022, valuing the agency at $100 million.
