Zero-knowledge applications platform Aloeraised $200 million in a Series B funding round.
Series B investment round was led by Kora Management LP and SoftBank Vision Fond 2. Tiger Global also participated in this round along with Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital.
As part of the deal, SoftBank and Kora each acquired a board seat at Aleo; But Aleo’s CEO and CTO Howard WuThe seats have not yet been assigned to specific executives, he told The Block.
Wu said that this is an equity financing round and will help Aleo build a company that offers services on top of the blockchain network.
Aleo’s blockchain network is currently in the testing phase and its mainnet in the third quarter expected to be released. When asked how Aleo differs from other zero-knowledge applications platforms, Wu said that most other projects use the technology to solve the scalability issue in Ethereum. As for Aloe scalability as well as secrecy added that it is developing its own Tier 1 blockchain, which significantly boosts
In technology, privacy features often conflict with convenience. By appealing to developers rather than creating their own apps or similar, Aleo’s platform aims to encourage more privacy practices and use easier use cases for both developers and users.
For now Aloe There are only 34 people on his team. But the project aims to expand the team into a variety of roles, including engineering, business development and operations, in order to achieve its goals. The funding round in question represents Aleo’s total funding to date. $228 million has taken it out. Last April, the project raised $28 million.