Humanity Protocol Secures $20M Funding, Hits $1.1B Valuation

Humanity Protocol has raised $20 million in funding, pushing its valuation to $1.1 billion. This new round follows a $30 million raise in May 2024, when the company was valued at $1 billion. Backed by Pantera Capital and Jump Crypto, Humanity Protocol is set to expand its Web3 presence and development.

Pantera and Jump Crypto Lead the Funding Round

Pantera Capital and Jump Crypto, both recognized for supporting blockchain projects, co-led the funding. Pantera recently invested $7 million in Radius and $10 million in Braavos. Jump Crypto, on the other hand, funded Raiinmaker, an AI-driven platform, with a $7.5 million round. 

With this new investment, Humanity Protocol will continue developing its Proof of Humanity mechanism and Human ID system. The company also plans to integrate this technology into major Web3 platforms.

Unlike Worldcoin, which uses iris scanning for identity verification, Humanity Protocol relies on palm scanning. This ensures better privacy and more accurate identification, while tackling issues like fake accounts and bots. 

Humanity Foundation to Boost Innovation

Alongside the funding, Humanity Protocol launched the Humanity Foundation. This initiative will support decentralized identity verification projects. Web3 leaders like Yat Siu, Mario Nawfal, and Yeewai Chong are driving the foundation’s efforts. 

They aim to fund research and development of decentralized digital identity solutions, accelerating global adoption of non-invasive biometric verification. This partnership and investment strengthen Humanity Protocol’s position in the Web3 space.