Funding Round Strengthens Web3 Identity Solutions
VeryAI, a startup focused on palm-print biometrics and cryptographic identity solutions, raised $10 million in a funding round led by Polychain Capital, announced on March 12, 2026. The investment aims to enhance VeryAI’s technology for bot-free and deepfake-resistant identity verification in Web3 applications.
The latest capital injection will enable VeryAI to scale its unique identity verification system designed for practical on-chain use cases. This venture targets a wide range of sectors including cryptocurrency exchanges, decentralized finance (DeFi), digital asset distribution, and decentralized autonomous organizations (DAOs). User engagement and verification processes will now rely on smartphone-based palm-print scanning technology which claims a remarkable false recognition rate of approximately one in ten million, significantly higher than the capabilities afforded by Apple’s Face ID.
Strategic Objectives and Features
VeryAI’s business model capitalizes on a privacy-first infrastructure using Zero-Knowledge Proofs combined with the Solana Attestation Service. This allows for on-chain identity verification while safeguarding personal data. Built on the Solana blockchain, VeryAI leverages the Light Protocol for efficient data compression, streamlining the verification process in a cost-effective manner.
The company has already begun partnerships, most notably with the MEXC Exchange for withdrawal verification. As its technology matures, VeryAI is looking to expand into broader financial institutions, banks, governments, and regulatory bodies which face increasing demands for robust compliance frameworks that also guard against malicious activities and fraud.
Polychain Capital underscored VeryAI’s potential impact, characterizing its innovations as a transformative solution against the rise of AI-driven fraud. In a statement, they emphasized the necessity for a new trust standard in various sectors including finance and social media.
Market Context and Future Potential
The funding reflects a growing recognition of the need for advanced identity verification solutions within the digital landscape. As the market for cryptocurrencies expands, the demand for reliable and secure user verification methods is becoming increasingly evident. VeryAI’s platform is uniquely positioned to meet these demands as organizations strive for more secure interactions and engagements via Web3.
As concerns surrounding digital identity continue to rise alongside increasing cyber threats, VeryAI’s upcoming developments are set to engineer more sophisticated tools targeting user verification. This shift is poised to not only enhance user security but also bolster compliance for businesses faced with regulatory scrutiny in a digital age.
