Aleo, a San Francisco, CA-based platform for building private blockchain-based applications, raised $200M in Series B funding.
The round, which valued the company at $1.45 billion, was led by Kora Management LP and SoftBank Vision Fund 2, with participation from Tiger Global, Sea Capital, Slow Ventures, Samsung Next, and Andreessen Horowitz (a16z).
Led by Howard Wu, CEO and CTO, Aleo uses zero-knowledge cryptography to enable developers to build decentralized applications that offer users personalized Web3 services without losing control of their personal data. Aleo transactions are processed off-chain, and only verified (rather than executed and re-executed) by the network nodes. This allows the platform to support a higher volume of transactions and empowers developers to create decentralized applications capable of addressing complex real-world use cases that currently require centralized servers, all while complying with applicable laws.
As the team works towards its impending mainnet launch, the company will use this funding to develop products and services that will help developers build an ecosystem on top of the decentralized network.
FinSMEs
07/02/2022