Ethereum Layer 2 solution Enphyr completes $1 million in seed round financing

Enphyr, an Ethereum Layer 2 solution, announced the completion of a $1 million seed round financing at a valuation of $10 million. Waveslab Ventures led the investment with participation from a group of industry private equity investors. Enphyr mainly helps projects use the security of Ethereum and build the next generation of Web 3 applications through its data privacy, data tokenization, and blockchain-supported KYC verification services. The new funds will be used to expand the team and build strategic partnerships.