Today, we’re excited to announce that Burrata has raised $8 million in a Seed round to build a bridge from web2 to web3.
Burrata’s integration layer will help bridge consumer identity and data from silo-ed Web2 systems into Web3. This open and extensible integration layer will help standardize, process, and prioritize the influx of web2 data on-chain. This integration layer is essential to onboarding the next billion users and their on-chain profiles.
One of the biggest opportunities in Web3 is to make your digital wallet function more like the one in your purse or pocket: it should carry your identity to get you access to the spaces that require it—like financial marketplaces and protocol voting booths—plus selective access to your data from across the web. The team’s background spans risk management, distributed systems, and work on some of Web3’s most innovative marketplaces—making them uniquely suited to bring identity on-chain in 2022
- Jesse Walden, Cofounder & GP @ Variant Fund
Tokenized real-world identities tied to rich consumer data and robust privacy controls make networks Sybil resistant while unlocking new applications from compliant Defi protocols to democratic governance of DAOs. We see consumer data as an asset that every user should own and control.
We’re keen to support companies creating new infrastructure for an increasingly decentralized internet. To that end, we’re excited to partner with Burrata as they accelerate the transition from Web2 to Web3.
- Chris Sperandio, Corporate Development Lead @ Stripe
To help make this bold vision a reality and enable progressive decentralization in line with Web3 ethos, Burrata has partnered with leading Web3 builders and investors, including Stripe, Variant, Ideo Co-Lab Ventures, Slow Ventures, CMS Holdings, South Park Commons, Dapper Labs, Jake Chervinsky, 0xMaki, Unbanksy, and over 30 more people whom each bring industry-leading insights, expertise, and networks to the project (complete list below).
The core ethos of decentralized apps is access. It doesn't matter if you're an anonymous dog like myself, an unbanked individual, or a regular American citizen - lending, borrowing, saving, trading, etc. is available to you on-chain. To ensure this stays true as we onboard the next billion Defi users, we need Burrata. It's built by crypto natives who will keep our personal data safe - apps get no private data, but can feel comfortable knowing they are acting legally under each country's regulations. Users get notified if a regulator ever requests their data, and have full access control with the ability to revoke access down the road. When asked about Burrata I respond with a simple statement - Honestly, good project.
-DCFGod, Crypto-anon & Angel Investor
The funds from the round will be used to scale the Burrata team, enrich the developer and consumer experience of the Burrata integration layer, establish partnerships, and support a community of Web3 builders.