# NuCypher funding: rounds and investors

> NuCypher has raised $11M across 1 round since 2019. Investors include Polychain, Y Combinator and Hashed. Every round with its source.

Source: https://millionrounds.com/company/nucypher (Millionrounds; every figure on the page links to its filing or article)

[Funded startup](https://millionrounds.com/companies)

# Who invested in *NuCypher*

One round we have observed, with the 10 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Web3 & Crypto

Y Combinator: S16

Funding summary Updated 26 Oct 2026

**$11M** raised across 1 round since 2019, from 1 source

- **Latest round:** Round, $11M Oct 2019
- **Led by:** Polychain
- **Investors:** 10 (1 led)

See who backed them

## The rounds

- **Oct 2019** Round **$11M** [Polychain](https://millionrounds.com/fund/polychain) Lead [Y Combinator](https://millionrounds.com/fund/y-combinator) [Hashed](https://millionrounds.com/fund/hashed) [CoinFund](https://millionrounds.com/fund/coinfund) [Compound](https://millionrounds.com/fund/compound-4) [DHVC](https://millionrounds.com/fund/dhvc) [Arrington XRP Capital](https://millionrounds.com/fund/arrington-xrp-capital) [Notation Capital](https://millionrounds.com/fund/notation-capital) [Bitfury](https://millionrounds.com/fund/bitfury) [Bitmain](https://millionrounds.com/fund/bitmain) Reported by Coindesk

## Everyone who backed them

[Polychain](https://millionrounds.com/fund/polychain) VC firm **1** round, led 1

[Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **1** round

[Hashed](https://millionrounds.com/fund/hashed) VC firm **1** round

[CoinFund](https://millionrounds.com/fund/coinfund) VC firm **1** round

[Compound](https://millionrounds.com/fund/compound-4) VC firm **1** round

[DHVC](https://millionrounds.com/fund/dhvc) VC firm **1** round

[Arrington XRP Capital](https://millionrounds.com/fund/arrington-xrp-capital) VC firm **1** round

[Notation Capital](https://millionrounds.com/fund/notation-capital) VC firm **1** round

[Bitfury](https://millionrounds.com/fund/bitfury) Investment firm **1** round

[Bitmain](https://millionrounds.com/fund/bitmain) Investment firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=nucypher).

## Also claim to have backed them

These 8 firms list NuCypher as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Base Ventures](https://millionrounds.com/fund/base-ventures) VC firm Per its own site

[FBG Capital](https://millionrounds.com/fund/fbg-capital) VC firm Per its own site

[Mission and Market](https://millionrounds.com/fund/mission-and-market) VC firm Per its own site

[Ceras Ventures](https://millionrounds.com/fund/ceras-ventures) VC firm Per its own site

[Fenbushi Digital](https://millionrounds.com/fund/fenbushi-digital) VC firm Per its own site

[Acadia Ventures](https://millionrounds.com/fund/acadia-ventures) VC firm Per its own site

[Atom Expeditions](https://millionrounds.com/fund/atom-expeditions) Venture studio Per its own site

[Continue Capital](https://millionrounds.com/fund/continue-capital) VC firm Per its own site

## Quick answers about NuCypher

### Who invested in NuCypher?

NuCypher's investors include Polychain, Y Combinator, Hashed, CoinFund and Compound, and 5 more on record. Polychain led its latest round.

### How much has NuCypher raised?

NuCypher has raised $11M across 1 round since 2019.

### When did NuCypher last raise?

NuCypher's most recent round was an Undisclosed round of $11M in Oct 2019, led by Polychain.

### What was NuCypher's biggest round?

Its most recent round, $11M in Oct 2019, is also its largest on record.

### Who backed NuCypher first?

NuCypher's first round on record, in Oct 2019, was backed by Polychain, Y Combinator and Hashed and 7 others.

### What stage is NuCypher at?

NuCypher's latest named round is an Undisclosed round, in Oct 2019.

### Who led NuCypher's rounds?

Polychain led the Undisclosed round in 2019.

## Companies like NuCypher

In the same sector, and raised in the last eighteen months.

[**OpenFX** $94M · Mar 2026](https://millionrounds.com/company/openfx)[**VeryAI** $10M · Mar 2026](https://millionrounds.com/company/veryai)[**OP_NET** $5.0M · Mar 2026](https://millionrounds.com/company/op-net)[**Utexo** $7.5M · Mar 2026](https://millionrounds.com/company/utexo)[**Stacks** $23M · Feb 2026](https://millionrounds.com/company/stacks)[**Kresus Labs** $13M · Feb 2026](https://millionrounds.com/company/kresus-labs)

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