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Rarimo, a zero-knowledge identity protocol, has secured $2.5 million in funding, backed by Ethereum co-founder Vitalik Buterin.
With $2.5 million in new funding, and an interoperability protocol for decentralization Social identity Rarimo now wants to accelerate its pursuit of a decentralized digital identity model web3 Moves toward more user-owned systems.
in X thread On November 27, Rarimo highlighted its focus on zk-wrapping identification methods, enabling users to verify important facts about their identity without revealing full personal details.
“Rarimo’s identity model, which wraps existing identity verification methods and builds apps on top, allowing users to prove important facts about their identity without completely revealing their identity, is a promising strategy to achieve both goals at the same time.”
Vitalik Buterin
Rarimo to expand the web3 identity ecosystem
The timing of the funding is crucial as Rarimo plans to enhance accessibility by moving to Ethereum as an overall pool, with a migration expected It will happen in early 2025, although a specific date has not been confirmed.
Additionally, Rarimo will continue to develop its own autonomous wallet called RariMe — which is seen as a competitor to Worldcoin’s identity solutions — which allows users to store personal data privately and create zero-knowledge proofs for identity verification.
Founded in 2021, Rarimo aims to address the issues of interoperability and liquidity across blockchain-based identity systems. Its service provider, Rarilabs, raised $10 million in a Series A round in 2022, valuing the company at $100 million.
