Champaign, Illinois, United States, July 2nd, 2024, Chainwire
Pi Squared, known for its innovative Proof of Proof technology, has successfully closed its first capital raise, securing $12.5 million in seed funding. The round was led by Polychain Capital and included notable investors such as ABCDE, Bloccelerate, Generative Ventures, Robot Ventures, and Samsung Next. The funding syndicate also featured angel investors like Shumo Chu, Harish Devarajan, Justin Drake, Sreeram Kanaan, Csongor Kiss, George Lambeth, Yilong Li, Calvin Liu, Lucian Mincu, Karthik Raju, and Common Prefix.
Leveraging zero-knowledge (ZK) technology in a fundamentally unique and correct-by-construction manner, Pi Squared aims to enable trustless remote computing, artificial intelligence, and interoperable smart contracts across any blockchain or decentralized application (dApp). This will be achieved through a universal and compact ZK circuit designed to verify the integrity of mathematical proofs, offering verifiable computing correctness guarantees directly from their formal semantics without translating to a common language, virtual machine (VM), or instruction set architecture (ISA).
“Our mission is to revolutionize verifiable computing, making it universal, correct-by-construction, and incredibly fast,” said Grigore Roșu, CEO of Pi Squared and CS Professor at the University of Illinois Urbana-Champaign. “Our technology will enable a universal settlement layer (USL) that allows all blockchains, Layer 1s, and Layer 2s to be universal, correct, interoperable, and efficient. Our long-term vision is to use the USL to settle all science and knowledge.”
“Pi Squared’s Proof of Proof technology will have a transformative impact across Web3 and beyond,” commented Karthik Raju, General Partner at Polychain Capital. “The universal ZK circuit developed by Pi Squared will significantly enhance the reach and applicability of Web3 for developers and users alike.”
Pi Squared’s initial product, the Universal Settlement Layer (USL), is designed to support modular blockchains with the following key attributes:
- Universality: Computations can be expressed in any high-level or virtual machine language without the need for compilers or translators.
- Provable Correctness: USL-verified computations are mathematically proven to be correct, with verifiability by any external entity.
- Trust Base Minimality: USL exposes any trust assumptions in upper-layer computations for increased transparency and minimizes the trust base through correctness proofs.
- App Interoperability: Supports interoperability between different application modules and networks (e.g., appchains).
- Determinism and Reproducibility: Ensures that validation is reproducible and independently verifiable by any external entity.
Pi Squared will showcase its innovations at various events around EthCC in Brussels from July 8th to 11th. CEO Grigore Roșu will present at Restaking & Infra Day on July 8th and at L2con on July 9th.
About Pi Squared
Pi Squared, a leader in ZK proof technology, offers verifiable computing correctness guarantees across all programming languages and VMs without translation to a common language. Led by UIUC professor Grigore Roșu, the team includes researchers and founders from prominent projects in formal methods, blockchain, and AI/ML.
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