Startup Protocol ALEO Has A Successful Funding Round

Seed funding is essential for startups to have better developments. 

Aleo, a platform designed to support decentralization and privacy on applications successfully raised $28 Million. 

The funds raised will be use to develop and build “the first platform for fully private applications”.

Leading the funding round is Andreessen Horowitz(a16z),a renowned venture capital firm based in Silicon Valley that backs an extensive portfolio of startups and protocols.

Other notable investors that participated are Placeholder, Coinbase Ventures, Galaxy Digital, Polychain Capital and Variant Capital.

Other firms such as Scalar Capital, Slow Ventures,DeKrypt Capital, a_capital, zkValidators, Balaji Srinivasan and Ethereal Ventures also participated.

Aleo’s aim is to provide app developers the necessary tools to create private web apps through the use of blockchain technology and zero-knowledge cryptography.

#SmartCrypto