Blockchain identity platform raises $20m, valued at $1.1b

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Decentralized identity platform Humanity Protocol has raised US$20 million in a funding round led by Pantera Capital and Jump Crypto.

This investment values the company at US$1.1 billion.

The platform combats online fraud, such as bots and deepfakes, by allowing users to verify their blockchain-based identities through palm scans.

The company will use the funds to improve its integration with other Web3 platforms.

It also plans to further develop its Proof of Humanity and Human ID systems.

In May 2024, Humanity Protocol raised US$30 million in a funding round led by Kingsway Capital.

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