Ruby Protocol completes $7.3 million funding round with DFG and other investors

Ruby Protocol, a cross-chain privacy Protocol based on Polkadot, has closed a $7.3 million funding round. Digital Strategies, DFG Group, SigNUM Capital, D1 Ventures, Global Coin Research, Ocean Foundation, DWeb3 Capital, Maverick Global Ventures, among others. Ruby Protocol uses functional encryption (FE) to encrypt sensitive data on the chain, so it can only be decrypted by an entity with an approved private key. The solution aims to ensure that users have a way to protect and control their data, giving them greater influence over private data sharing.