NextBlock invests $3 million in Soda Labs blockchain privacy startup

Soda Labs, which builds privacy infrastructure for institutions, banks and DeFi applications, has secured $3 million from Luxembourg-based venture capital firm NextBlock to scale its programmable privacy infrastructure across public blockchains, according to an Oct. 8 statement. Soda Labs is focused on bringing more privacy to public blockchains without giving up their transparency and programmability. The company develops confidential-computing technology for banks, institutions, DeFi platforms and real-world asset applications. Its Bubble platform allows users to conduct transactions, manage treasuries, make payments and execute smart contracts without publicly revealing balances, transaction amounts, counterparties or trading strategies, the company says. The technology is powered by garbled-circuit Multi-Party Computation and is already running in production on COTI’s mainnet. The system can run on standard cloud CPUs, allowing private computation without requiring specialized hardware or separating applications from public blockchain infrastructure. “What attracted us to Soda was not only the underlying cryptography, but the practicality of the technology for the financial wor...