ZODL Raises $25M Seed Funding for Zcash Ecosystem

Zcash Open Development Lab, a company formed by former developers from the Electric Coin Company, announced on Monday that it has raised more than $25 million in seed funding from a group of prominent cryptocurrency investors. The round, which included participation from Andreessen Horowitz, Paradigm, Winklevoss Capital, Coinbase Ventures, and Cypherpunk Technologies, comes amid renewed interest in the privacy-focused cryptocurrency Zcash, whose token price rose about 7 percent in the following 24 hours to around $218.

The funding supports ZODL's efforts to advance the Zcash ecosystem, particularly through its flagship Zodl wallet, a self-custodial mobile application that enables private transactions using the protocol's shielded features. Launched in 2024 under the name Zashi by the Electric Coin Company team, the wallet has since driven significant growth in Zcash's shielded pool, which obscures transaction details to enhance privacy. According to ZODL, the pool has expanded by more than 400 percent since the wallet's debut, while it has facilitated over $600 million in ZEC token swaps since October 2025. The company also plans to develop Zallet, a full-node wallet aimed at...