Ulvetanna

Ulvetanna, a startup that builds hardware to increase the efficiency of zero-knowledge-proof generation, Ulvetanna plans to primarily focus on generating ZKPs for Layer 2 zero-knowledge Ethereum Virtual Machine networks, a scaling technology that utilizes zero-knowledge technology.

Seed Funding Round: $15 Million

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What is Ulvetanna

Our mission: to accelerate the ZK revolution by supporting web3 networks with reliable and cost-efficient proof generation. We are thrilled to also announce that we’ve raised $15M in funding co-led by Bain Capital Crypto and Paradigm with participation from Jump Crypto. Our investors are renowned for their substantial contributions to the crypto industry, and they have laid the groundwork for our growth.

With Ulvetanna’s interdisciplinary expertise, we are co-designing our hardware and software stacks all the way from the cryptographic algorithms to data center topology. Our approach takes advantage of the most appropriate compute hardware for each stage in the proof generation process, keeping energy consumption to a bare minimum and thereby reducing baseline costs. By offloading the most expensive cryptographic operations to FPGAs with tailor-made digital logic, we can achieve significantly better performance and energy efficiency compared to CPU and GPU-based solutions. Our FPGA servers avoid data transfer bottlenecks using cluster topologies that public cloud services cannot support, and Ulvetanna has partnered with a climate-aligned data center provider, Crusoe Energy, to power all our operations sustainably.