Altcoin projects Polygon (MATIC) and Aloe announced that they have received a million-dollar investment. Silicon Valley venture capital firm Sequoia is dedicating $450 million to Polygon Blockchain. Aleo has raised $200 million in a Series B funding round from SoftBank, Tiger and other investment giants. Details of the development cryptocoin.com compiled for our readers.
Investment giants pour hundreds of millions into altcoin projects
Ethereum scaling solution and interoperability blockchain Polygon has received a $450 million investment from Silicon Valley venture capital firm. The Web 3.0 sector sees investments from top venture capital firms such as Andreessen Horowitz, Tiger Global, and Sequoia Capital. While Sequoia, one of the companies behind Polygon support, is quite modest about its involvement in the project, another investment giant Andreessen has his own private crypto fund. Shailesh Lakhani, general manager of Sequoia India, has the following statements about the project:
Thousands of developers across a wide range of applications choose Polygon and its comprehensive scaling solutions for the Ethereum ecosystem. This is an ambitious and proactive group that places great emphasis on innovation.
Altcoin project Aleo secures $200M
Privacy-focused blockchain startup Aleo has secured $200 million in a Series B funding round. The investment was jointly led by SoftBank Vision Fund 2 and Kora Management, with participation from Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital. Aleo’s network is also currently in the testnet phase, with a mainnet launch scheduled for the third quarter of the year. What sets Aleo apart from other blockchain projects using zero-knowledge proof technology is that most other altcoins focus on solving Ethereum’s scaling problem, according to Howard Wu, CEO and CTO of Aleo. Aleo is building its own layer one blockchain infrastructure, which it claims has significantly increased scalability and privacy.
About Aloe
The Aleo team is currently 34 people and aims to expand into a variety of roles including engineering, business development and operations. The Series B round brings Aleo’s total funding to date to $228 million. Last April, the project raised $28 million.
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