Rarimo secures $2.5m for ZK identity protocol with backing from Vitalik Buterin

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 id Rarimo now desires to speed up its pursuit of a decentralized digital id mannequin as web3 strikes towards extra user-owned methods.

In an X thread on Nov. 27, Rarimo highlighted its concentrate on zk-wrapping proof-of-personhood strategies, enabling customers to confirm vital information about their id with out disclosing full private particulars.

“Rarimo’s id mannequin of zk-wrapping current proof-of-personhood strategies and constructing functions on prime, permitting customers to show vital information about who they’re with out absolutely disclosing their id, is a promising technique to realize each targets on the identical time.”

Vitalik Buterin

Rarimo to increase 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 anticipated to happen in early 2025, although no precise date has been confirmed.

Moreover, Rarimo will proceed to develop its self-custody pockets referred to 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 methods. Its service supplier, Rarilabs, raised $10 million in a Sequence A spherical in 2022, valuing the agency at $100 million.

Learn extra: On a quest for democracy and privateness: Unveiling Rarimo’s Freedom Software with Lasha Antadze