2 minute read | October.10.2024
Fermah, the universal proof generation layer, has closed a $5.2 million seed round, co-led by the a16z CSX fund and Lemniscap.
Orrick advised Fermah.
The round also included participation from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital and Daemon Ventures.
Fermah is the universal proof generation layer. It functions as a marketplace, where the supply side comprises GPUs and FPGAs. On the demand side, Fermah can generate proofs for any instance in which ZK is used. Fermah is optimized for cheap, fast and reliable ZK proof generation.
The funding will go towards product development and team expansion, with Fermah hiring for a number of key roles, as part of the company's vision to make zero-knowledge proofs the default substrate for all computation.
"I'm extremely optimistic that Fermah will revolutionize the ZK space as we know it,” said Vanishree Rao, Founder and CEO of Fermah.
“Soon, incorporating zero knowledge into applications will be frictionless. After over 15 years of building ZKPs, I can clearly see that we are approaching an inflection point: the infrastructure is finally in place, and we're on the precipice of a boom in innovative ZK applications. Fermah will play an integral role in this boom."
Joseph Perkins led the Orrick team advising Fermah. The team also included Andrew Wallach and Andrés Yarto.