Privacy blockchain Beldex raises $8M to build encryption tools for AI agents

Beldex, a privacy-focused blockchain infrastructure company, has raised $8 million in a new funding round, bringing its total capital raised to $36 million. The company is working on encryption tools aimed at artificial intelligence agents alongside its existing suite of privacy products.

The round was led by Sigma Capital, with participation from NTC, Nxgen, Digital Consensus Fund and EAK Ventures. It follows two earlier rounds from DWF Labs and Block Alpha that brought in a combined $28 million in 2023.

Vineet Budki, managing director and CEO at Sigma Capital, said the firm was drawn to Beldex’s history in the space. “What stood out to me about Beldex is its long-term conviction,” he said.

Budki said that they believe that Beldex is well positioned for the next era of Web3, which, according to him, demands privacy, an area that the company spent years building into its infrastructure.

What will the new funding build?

Beldex is working on an infrastructure layer that will allow developers to build shielded smart contracts and encrypted identities for AI agents without sacrificing performance and usability. It said that the raised capital will be deployed in that direction.

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