Umbra Raises $154.9M in ICO, Overshoots Target by 206x

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Umbra Raises $154.9M in ICO, Overshoots Target by 206x — Image source: Unblock Media

Umbra raised $154.9M in an ICO on MetaDAO, exceeding its $750K goal.
Funds will support development of privacy-focused blockchain applications.

Umbra, a privacy protocol based on Solana and incubated by Arcium, successfully raised $154.9 million through an Initial Coin Offering (ICO) conducted on the MetaDAO platform. The funding exceeded its initial target of $750,000 by more than 206 times, highlighting substantial market interest in privacy-focused blockchain solutions and decentralized finance applications.

The ICO, which attracted 10,518 investors, imposed a hard cap of $3 million. Participants will receive approximately 2% of their committed amount, with the rest being refunded. This allocation showcases the immense demand for early entry into privacy-driven projects.

Umbra co-founder Kru issued a statement following the ICO, emphasizing growing market recognition for privacy-preserving technologies. “This raise is a strong signal that privacy-preserving technology isn’t just a niche anymore — it’s becoming a fundamental expectation for users,” Kru said.

The funds will be directed toward the development of key features within Umbra’s privacy ecosystem. These include enabling private swaps, building a bridge between Zcash and Solana, and monetizing its software development kit (SDK). Umbra plans to launch alongside Arcium's Mainnet Alpha, further cementing its position as a key privacy protocol within the Solana blockchain ecosystem.

Yannik Schrade, CEO of Arcium, also commented on the ICO’s success, stating, “It’s a clear message from users who want greater control and privacy over their onchain activity.” His statement underscores the growing demand for solutions that provide users with greater autonomy and confidentiality on decentralized networks.

As of October 10, 2025, 16:08 UTC, Solana (SOL) is trading at $211.46, with a 3.63% decline in 24-hour trading volume. USDC is trading at $1.00, reflecting a 0.006% change in daily volume, while Zcash (ZEC) is priced at $232.99, with a 21.41% increase in 24-hour trading volume, according to TradingView.