According to Odaily, Mind Network, a leader in fully homomorphic encryption (FHE) and re-staking technologies, has successfully secured $10 million in a Pre-A funding round. The investment was spearheaded by notable firms such as Animoca Brands, Arkstream Capital, Cogitent Ventures, G Ventures, MH Ventures, Master Ventures, Moonhill Capital, SwissBorg Ventures, and IBC Group. Individual investors, including ether.fi CEO Mike Silagadze and crypto influencers Mario Nawfal, Mr. Block, and Kyle Chassé, also contributed to the round.

The company plans to use the funding to enhance its staking protocols and broaden its operational capabilities. With this capital, Mind Network aims to further develop its infrastructure, allowing users with staking assets from partner protocols to exchange them for vFHE on its platform and engage in FHE voting.

Previously, Mind Network launched an FHE voting solution designed to bolster consensus and data security for AI and Proof-of-Stake (PoS) networks. This innovative approach employs the concept of Total Governance Value (TGV), which decouples voting rights from staking assets, enabling allocation to networks or systems that need governance and consensus. By holding staking assets, users can acquire vFHE and help secure the consensus of other networks they wish to support.