Soda Labs, a developer of confidential computing technology for financial institutions and DeFi, has raised $3 million in funding. The investment was led by the Luxembourg-based venture capital firm NextBlock.
The startup focuses on privacy infrastructure for public blockchains. Its flagship platform, Bubble, enables transactions and smart contract execution without exposing balances, transaction amounts, or trading strategies.
The technology utilizes garbled-circuit Multi-Party Computation and operates on standard cloud CPUs. It is currently live on the COTI mainnet and has processed over 100 million transactions to date.
The company plans to use the new capital to scale its commercial adoption and expand its infrastructure across Ethereum, Polygon, Arbitrum, Base, and Solana. It also intends to grow its team and validator network.
Soda Labs is currently involved in institutional experiments, including the European Central Bank’s Pioneer programme. Its PriveX platform has reportedly processed more than $20 billion in trading volume.
