Humanity Protocol Secures $20 Million Funding

The decentralized identity platform Humanity Protocol raised $20 million in funding led by Pantera Capital and Jump Crypto.

This fresh financing brings Humanity Protocol’s fully diluted valuation to $1.1 billion, according to a company release.

Humanity Protocol builds infrastructures for humans to verify their digital presence, aiming to reduce the number of bots, deepfakes, and other frauds in online spaces. Users can scan their palms and authenticate their blockchain-based digital identity while maintaining control over their personal data.

The firm plans to utilize the funds to scale operations, integrate with other web3 platforms, and enhance its Proof of Humanity and Human ID infrastructure.

> “At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own,” said founder Terence Kwok in a release on Jan. 27. “This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm.”

In May 2024, Humanity Protocol raised an additional $30 million led by Kingsway Capital, bringing the firm’s total valuation to $1 billion, as reported by The Block.