Aztec Network Raises $17 million Series A from Paradigm

Aztec Network has raised $17 million in Series A financing to bring programable privacy to Web3.

The round was led by Paradigm with support from existing partners a_capital, Ethereal Ventures, and Libertus Capital, and participation from Variant Fund, Nascent, IMToken, Scalar Capital, Defi Alliance, IOSG Ventures, and ZK Validator, along with leading angels including Anthony Sassano, Stani Kulechov, Bankless, Defi Dad, Mariano Conti, and Vitalik Buterin.

“Privacy is a fundamental right. Aztec’s rollup, powered by their pioneering academic research on Plonk, is solving for high privacy while also allowing access to Ethereum’s DeFi. We’re incredibly pleased to partner with them and help advance this work.”— Georgios Konstantopoulos, Research Partner and Chief Technology Officer, Paradigm

“When we started Aztec, the technology to scale blockchains privately didn’t exist. Since then, we’ve assembled a team of world-class cryptographers who continuously redefine the state-of-the-art. Inventing PLONK — the paradigm-defining universal zk-SNARK — showcases our ability to produce technology that matches our ambitions: unlocking an entire universe of blockchain applications that couldn’t exist without privacy.”—Zac Williamson, CEO and Cofounder, Aztec

Proceeds from the Series A will be used for network decentralization, Aztec Connect Grants, and continued development of its class-leading zero knowledge proving systems.

ABOUT Aztec Network
Aztec Network is the first private ZK-rollup on Ethereum, enabling decentralized applications to access privacy and scale. Aztec’s rollup is secured by its industry-standard PLONK proving mechanism used by the leading zero-knowledge scaling projects.

RESOURCES
Medium