Soda Labs secures $3M seed round led by NextBlock for blockchain privacy tools
NextBlock has provided $3 million to fund Soda Labs' entire seed round. Soda Labs uses garbled circuits and multiparty computation to enable private computation on public blockchains without specialized hardware. Its technology has processed over 100 million transactions on COTI and supports applications including Zoniqx and PriveX.
NextBlock supplied the full $3 million seed amount. Soda Labs, based in Luxembourg, has spent roughly two and a half years building privacy infrastructure that pairs garbled circuits with multiparty computation. Its engine uses established cryptographic standards and runs on ordinary cloud processors, avoiding specialized hardware.
On COTI, the technology has handled over 100 million transactions and supports Zoniqx and PriveX; PriveX reports more than $20 billion in trading volume. Soda is extending from gcEVM, its live Ethereum Layer 2 privacy layer, to Soda Bubble, a chain-agnostic coprocessor with a validator network. Bubble is rolling out across Ethereum, Polygon, Arbitrum and Base, with Solana work underway.
If privacy tools like Soda Labs’ gain adoption, financial institutions, payment providers and blockchain users could conduct sensitive transactions on public networks with less exposure of underlying data. That may broaden participation in tokenized assets and onchain markets, while also raising questions about oversight, auditability and how compliance is maintained. Developers and validators may face new operational demands. The ultimate effect depends on real-world performance, adoption and governance, not cryptographic claims alone.