According to TechFlow, NovaNet announced that it has completed a $3 million financing round, led by Finality Capital, with participation from Arrington Capital, Avalanche Foundation and other institutions. It is committed to building the world's first zero-knowledge proof incentive layer suitable for various scenarios.

NovaNet provides local verifiable computing and privacy-preserving applications, supporting a wide range of applications from AI, decentralized Internet of Things (DePIN) to games. Its zkVM based on the NIVC (Non-Uniform Incremental Verifiable Computation) paradigm allows developers to choose the circuit size according to their needs, optimize memory and performance, and users only need to pay for the part they actually use.