HomeNewsAleo Blockchain secures $200M in latest round, to expand Web3 product offering

Aleo Blockchain secures $200M in latest round, to expand Web3 product offering

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Aleo Blockchain, a privacy-focused decentralized application builder, announced on Monday that it has raised $200 million in its latest funding round co-led by Kora Management LP and SoftBank Vision Fund 2.

The blockchain protocol claims its Series B round represents “the largest fundraising round ever in the zero-knowledge industry.” The round saw participation from some of the well-known venture capitals, including Tiger Global, Sea Capital, Slow Ventures, Samsung Next, and Andreessen Horowitz (a16z).

With the latest capital, the company plans to expand its product portfolio to help developers build an ecosystem on top of the decentralized network. Daniel Jacobs, Founder at Kora Management LP, noted in the announcement:

“The two biggest challenges in the blockchain space are privacy and scalability, Aleo is building a foundational layer that addresses both, which we believe will help to catalyze and grow the next generation of truly mass-market use cases in blockchain, from gaming to DeFi and beyond.”

Aleo Network is preparing to launch its mainnet later this year after it recently unveiled its testnet to developers. Howard Wu, CEO and CTO of Aleo, said:

“Our goal at Aleo is to build the foundations for the next generation of decentralized web applications. We want to use technologies, such as zero-knowledge proofs and blockchains, to create an ecosystem for developers that enriches and empowers users’ capabilities on the web.”





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