Rarimo secures $2.5m for ZK identity protocol with backing from Vitalik Buterin

Rarimo, a zero-knowledge identity protocol, has secured $2.5 million in funding, with backing from Ethereum co-founder Vitalik Buterin.

With $2.5 million in new funding, interoperability protocol for decentralizing social identity Rarimo now needs to speed up its pursuit of a decentralized digital identity mannequin as web3 strikes towards extra user-owned programs.

In an X thread on Nov. 27, Rarimo highlighted its concentrate on zk-wrapping proof-of-personhood strategies, enabling customers to confirm essential info about their identity with out disclosing full private particulars.

“Rarimo’s identity model of zk-wrapping existing proof-of-personhood methods and building applications on top, allowing users to prove important facts about who they are without fully disclosing their identity, is a promising strategy to achieve both goals at the same time.”

Vitalik Buterin

Rarimo to increase web3 identity ecosystem

The timing of the funding is essential as Rarimo plans to boost accessibility by migrating to Ethereum as a roll-up, with the migration anticipated to happen in early 2025, although no actual date has been confirmed.

Additionally, Rarimo will proceed to develop its self-custody pockets referred to as RariMe — seen as a rival to Worldcoin’s identity options — which permits customers to retailer private information privately and generate zero-knowledge proofs for identity verification.

Founded in 2021, Rarimo goals to sort out interoperability and liquidity points throughout blockchain-based identity programs. Its service supplier, Rarilabs, raised $10 million in a Series A spherical in 2022, valuing the agency at $100 million.

Read extra: On a quest for democracy and privateness: Unveiling Rarimo’s Freedom Tool with Lasha Antadze