The funding round was led by prominent investors including a16z Crypto, 1kx, and Hack VC, with additional contributions from Finality Capital Partners and notable angel investors.

This funding will enable Miden to enhance transaction speed and confidentiality, specifically targeting large financial institutions and governments.

Initially, Miden will focus on applications in asset management and trading, aiming to meet the growing demand for privacy solutions in these sectors.

Co-founder Azeem Khan emphasized the increasing institutional demand for privacy solutions that comply with regulations while maintaining high performance.

Miden, a new blockchain project that has spun off from Polygon, has successfully raised $25 million in seed funding to develop Edge, a privacy-focused blockchain utilizing zero-knowledge-proof technology.

Bobbin Threadbare, another co-founder, noted that Miden aims to overcome the limitations of existing privacy-focused blockchains, positioning itself for mass adoption and compliance.

The protocol is designed to balance scalability, privacy, and programmability through the use of zero-knowledge technology and edge devices, allowing transaction execution on users' devices.

Miden intends to provide high confidentiality for institutions, enabling secure public and private transactions, as highlighted in their recent announcements.

The mainnet launch for Miden is scheduled for the fourth quarter of 2025, coinciding with the introduction of its native token, which will be essential for network transactions.

Miden was initially incubated within Polygon in 2021 and has now become an independent entity as Polygon shifts its focus to the AggLayer Breakout Program.

By employing zero-knowledge technology, Miden aims to ensure transaction confidentiality, catering to institutions that execute large payment batches without impacting public stock prices.

Sandeep Nailwal, founder of Polygon Labs, praised Miden as a blueprint for the future of blockchain architecture, emphasizing its innovative edge execution capabilities.