SINGAPORE MAY 11 2023 / EMURGO VENTURES (“EMV”) – EMURGO Ventures, the venture investment arm of Cardano blockchain founding entity EMURGO, today announced an investment in Deeper Network (“Deeper”), the world’s first and only decentralized cybersecurity & VPN (virtual private network) infrastructure provider. EMV’s investment will support Deeper’s mission to provide users with a more private, more secure, and ultimately freer internet experience by leveraging the decentralized properties of blockchain technology.
Founded in Silicon Valley, Deeper combines the power of decentralized blockchain technology with traditional network security to provide all-in-one cybersecurity solutions for enterprises and individual users. While VPN services are commonly used by internet users, centralized VPN services are still the most prevalent. Centralized VPN services tend to offer less transparency about user data storage processes, have opaque privacy policies, and have closed-source code user products. Through its solutions and decentralized blockchain technology, Deeper provides unique value to users with a decentralized VPN experience that offers enhanced privacy and security.
EMV believes Deeper could also fuel the development of more interoperable privacy-focused dApps in the Cardano ecosystem through its decentralized VPN services and solutions.
“User privacy is already a very essential condition for many internet users and will only continue to gain more importance due to the numerous vulnerabilities of centralized user data. Privacy is a fundamental right and the unique decentralized properties of blockchain technology can now enable VPNs to become decentralized and distributed,” said EMURGO Ventures Venture Partner Kaimin Hu. “EMURGO Ventures believes that the privacy and cybersecurity industries hold much potential for decentralized blockchain technology to add unmatched value.”
“Deeper Network is ecstatic about receiving funding from EMURGO Ventures, a top-tier Web3 investment arm. With this investment and partnership, our two organizations will combine resources and our know-how to advance the Web3 ecosystem forward towards a more private, secure, and fairer internet,” said Deeper Network co-founder and CEO Cheryl Liu.
According to DataProt, “31% of internet users worldwide have used a VPN service” and “43% of people globally feel that they lack control over their personal information” . In the US alone, “61% of Americans say they would like to do more to protect their privacy” with many users increasingly distrustful of centralized entities having access to their data.
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About EMURGO Ventures
EMURGO Ventures (“EMV’) is the venture capital and investment arm of EMURGO, the official commercial arm and a founding entity of the Cardano blockchain. EMV focuses on investing in and supporting innovative Web3 projects and startups that have the potential to drive the adoption and integration of blockchain technology across various industries. As a chain-agnostic firm, EMV recognizes the value of collaboration and the importance of building a diverse and interconnected blockchain ecosystem. For more information, please visit https://emurgo.io/investment
About Deeper Network Inc.
Deeper Network represents the world’s first decentralized blockchain network for building a truly private, secure, and fair Internet. Deeper Network Inc. was founded in Silicon Valley in 2018 with the vision of leveraging blockchain technology to empower the everyday users of the internet by building both the Web 3.0 infrastructure of the future and an accessible gateway for everyone to join the revolution. We have world-class talent working on the project. Most of our team members held important positions at Google, IBM, Alibaba, etc. Our technical core team members are from Palo Alto, Fortinet, and other companies that are world leaders in cybersecurity. For more information, please visit https://shop.deeper.network.
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