Ruby Labs Ltd.

Based in British Columbia, Canada, and founded in 2020 by CEO Tyler Gellatly, Suhas Hegde, and L Heisenburg, Ruby Labs Ltd. operates as a cross-chain privacy protocol. In February 2022, Ruby Labs Ltd. raised USD 7.

30 million from Digital Strategies, DFG Group, SigNum Capital, D1 Ventures, Global Coin Research, Ocean Foundation, DWeb3 Capital and Maverick Global Ventures. Ruby Protocol operates as a privacy-first layer 1 blockchain that utilizes Functional Encryption (FE) cryptography, which allows users to adopt a modular approach to data privacy and ownership. It enables users to encrypt Sensitive data on-chain, and only decrypted by holders of an approved private key. The company intends to use the funds raised in February 2022 to accelerate its core development of the layer-1 blockchain and privacy-middleware, expand research into new decentralized applications, expand use cases, and team expansion across development and ecosystem growth.