KR1 PLC (LON:KR1) said it has invested US$200,000 into a seed funding round at Automata Network alongside trading firm Alameda Research and other investors such as IOSG Ventures, Divergence Ventures and Genesis Block, for a yet-to-be-determined amount of Automata (ATA) tokens.
The Aquis-listed digital asset investor said Automata is a decentralised protocol that provides traceless privacy services for applications on multiple platforms, including Ethereum, Polkadot and the Binance Smart Chain, to achieve privacy, high assurance and frictionless computation.
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“We have witnessed the abuse of private data in the Web 2.0 era and its severe consequences for the public. Privacy services like Automata form a crucial element in the vision of a fully decentralised web and allow developers and their users to finally take back control,” KR1 managing director and co-founder Keld van Schreven said in a statement.
“With services such as front-running prevention for traders, anonymous voting, tamper proof data sources for oracles and speedy cross chain transactions, we see Automata as a key infrastructure piece in the emerging Web 3.0 stack and a brilliant addition to the KR1 portfolio,” the MD added.