Oasis Labs has raised $45 million to build a “privacy-first” cloud computing platform with blockchain technology. The Berkeley, California based company is designing a platform to overcome the performance, security, and privacy limitations that have hampered blockchain adoption to date. The aim is to make blockchain, a distributed secure ledger that powers cryptocurrencies such as Ethereum, more useful to a broader set of companies.
The first funding round included a16z crypto, Accel, Binance DCVC (Data Collective), Electric Capital, Foundation Capital, Metastable, Pantera, Polychain, and others. The opportunity to responsibly leverage data in the web’s next phase of products and innovation is truely a remarkable event of this operation. Oasis Labs is forging a new path by giving people control over their data while delivering a high-performance blockchain platform that will reshape the future of the cloud.
The Oasis platform aims to give users control over their data, and at the same time deliver superior performance and privacy capabilities. Our goal is to build the scalable and secure decentralized internet that puts users first.
– Oasis Labs CEO Dawn Song
To power those applications, the Oasis platform embodies two core ideas. The first is bringing privacy and security protections previously not possible on a blockchain. The second is delivering processing capabilities with much greater performance than existing systems, even for complex applications. This combination could enable sophisticated, computationally intensive, and privacy-sensitive services, such as machine learning on the blockchain, the company said.