Soda Labs Completes $3 Million Seed Round Financing, Led by NextBlock

BlockBeats News, October 8: Programmable privacy infrastructure Soda Labs has completed a $3 million seed round financing, led by NextBlock. Over the past two and a half years, Soda Labs has developed a cryptographic privacy solution combining garbled circuits and multi-party computation (GC-MPC), relying on proven cryptographic standards such as AES and SHA256. Its privacy engine operates on standard cloud CPUs without requiring specialized hardware, enabling privacy computation while maintaining connectivity with existing public blockchain infrastructure. NextBlock founder Pieter van Poecke stated that what attracted them was the practicality of the technology rather than pure cryptography. Soda already has a functional product and paying customers. The funds from this financing will support the company in focusing on commercial adoption and execution over the next 12 to 18 months, while expanding its architecture from the Ethereum L2 privacy layer gcEVM, which currently runs on COTI, to the chain-agnostic co-processor for programmable privacy, Soda Bubble. Soda Labs is launching Bubble across major EVM ecosystem networks such as Ethereum, Polygon, Arbitrum, and Base, while also advancing its expansion into non-EVM networks like Solana.