NYC-based developer Inco has secured $4.5 million in funding for its confidentiality layer for Ethereum and other networks. The funding round was led by 1kx, with participation from Circle Ventures, Robot Ventures, and others. Inco plans to use the funds to expand its operations and development efforts. The company's confidentiality layer uses fully homomorphic encryption and is interoperable with other blockchains, allowing for the development of decentralized applications with encrypted data. Inco has also launched the Gentry testnet to address confidentiality challenges in Web3.