Zcash Open Development Lab raises $25 million from leading crypto investors Paradigm, a16z and others

Zcash Open Development Lab (ZODL), the startup formed by cryptographers who left Electric Coin Company (ECC) after a board dispute, has successfully raised $25 million in seed funding. The round was backed by leading crypto investors including Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures. ZODL oversees the open-source Zodl Zcash wallet (formerly Zashi) and related intellectual property. The funding will be used to hire talent and continue developing Zcash technologies, with the announcement emphasizing that the engineers who built Zcash's critical systems are now continuing that work at ZODL. The Zodl wallet has already facilitated over $600 million in ZEC swaps since October and has driven significant growth in Zcash's shielded pool supply.

(Source：The Block)