According to Foresight News, Web3 identity layer idOS has completed $4.5 million in financing, led by Fabric Ventures, with participation from Arbitrum Foundation, Circle (through its affiliate Circle Ventures), Ripple, NEAR Foundation, Gnosis, Aleph Zero Foundation, Radix and Tezos Foundation (Etherlink). Most of these institutions have also formed an alliance with idOS to develop the Web3 identity layer and promote the adoption of decentralized identity throughout the Web3 space.

idOS is a decentralized data storage and access management protocol that provides an identity layer for dApps to solve compliant user onboarding issues and significantly reduce friction.