NextBlock backs Soda Labs with $3M for blockchain privacy

7.3 Investments

Oct 8, 2026

NextBlock invested $3M in Soda Labs’ seed round to expand its programmable privacy tech for public blockchains. Soda Labs’ solution enables confidential financial operations and already processes millions of transactions.

NextBlock has invested $3 million in Soda Labs, fully funding the company’s closed seed round to accelerate the expansion of its programmable privacy infrastructure for financial activity on public blockchains. Soda Labs has developed a cryptographic privacy solution that combines garbled circuits with multiparty computation (GC-MPC), leveraging established standards like AES and SHA-256. This privacy engine operates on standard cloud CPUs, enabling private computations while maintaining seamless connectivity to public blockchain networks. Soda Labs’ technology has already processed over 100 million transactions and supports applications such as the tokenization platform Zoniqx and the perpetuals exchange PriveX. The new funding will help Soda Labs move from pilot projects to commercial production, expand its Bubble privacy platform across multiple blockchains—including Ethereum, Arbitrum, Base, Polygon, and future integration with Solana—and facilitate confidential financial operations for banks, payment firms, and DeFi platforms. NextBlock emphasized the commercial readiness and practicality of Soda Labs’ technology, highlighting its working product and existing paying customers.