Zcash Open Development Lab (ZODL) closed a seed round worth over $25 million. Investors include Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Maelstrom, and angels Balaji Srinivasan and Hasib Kureshi.
ZODL was founded by Josh Svihart, former CEO of Electric Coin Company, the organization that developed Zcash. The team is working on the Zodl wallet (formerly Zashi): since its launch in 2024, the volume of secure transactions on the network has grown by 400%, and $600 million worth of ZEC swaps have passed through the app. At the beginning of the year, the entire ECC team moved to ZODL.
The money will go towards hiring and product development. At the same time, ZODL continues to support the Zcash protocol with the same engineers who built it at ECC.