Soda Labs closes $3 million seed round led by NextBlock

On October 8 that, according to Chainwire, NextBlock, a venture capital firm focused on blockchain and programmable cryptography, has invested $3 million in Soda Labs, fully subscribing to its seed round financing. This funding round aims to support Soda Labs in expanding its programmable privacy infrastructure for public chain financial activities over the next 12 to 18 months, while advancing commercial adoption, validator network expansion, and integration with banks, payment institutions, and asset tokenization platforms.

By combining garbled circuits and secure multi-party computation (GC-MPC) technologies, Soda Labs provides privacy-preserving computing solutions that run on standard cloud processors without requiring specialized hardware. Having previously supported processing over 100 million transactions on the COTI network, the company is currently expanding its architecture into a chain-agnostic programmable privacy coprocessor called Soda Bubble. The coprocessor has launched on EVM ecosystems including Ethereum, Polygon, Arbitrum, Base, and COTI, and is expanding to non-EVM networks such as Solana to enable private transactions and computations on public chains under controlled disclosure and compliance requirements.