Apr 25, 2024
Aligned Layer, an Ethereum verification protocol, has raised $20 million in a Series A funding round to accelerate the development of faster and cheaper zero-knowledge (ZK) proofs on Ethereum. The round was led by Hack VC with additional contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC, and Theta Capital.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Aligned Layer | April 25, 2024 | $20M | Series A | $22.6M | Hack VC | ZK |
ZK proofs allow one party to verify the truth of a statement to another party without revealing any additional information. Aligned Layer aims to streamline this process, helping engineers avoid bottlenecks and reducing the cost of building ZK proof-based applications on Ethereum.
The company verifies proofs quickly and economically, posting their results on Ethereum and any desired data availability (DA) layer. Aligned Layer operates as an EigenLayer "actively validated service" (AVS).
EigenLayer focuses on "restaking," where ether (ETH) is deposited as security for the main blockchain and can be repurposed to secure other networks. Eigen Labs, the developer of EigenLayer, raised $100 million from Andreessen Horowitz (a16z) in February 2024.
About Aligned Layer:
Aligned Layer focuses on improving the efficiency and cost-effectiveness of zero-knowledge proofs on Ethereum. By leveraging its expertise in verification protocols and actively validated services through EigenLayer, Aligned Layer aims to simplify the development process for engineers and reduce the costs associated with ZK proofs. The company’s recent $20 million funding will be used to further its mission of enabling faster and cheaper ZK proofs, expanding its infrastructure, and supporting broader adoption within the Ethereum ecosystem.
Website: https://alignedlayer.com/
Twitter Account: @alignedlayer
Twitter Followers Today: 10,200
Twitter Followers 30 Days Ago: 4,993
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Investor Profile:
Investor: Hack VC
Description: Hack VC is a venture capital firm that invests in early-stage technology companies. The firm supports innovative projects in the blockchain and cryptocurrency sectors.
Location: United States
Website: https://www.hack.vc/
LinkedIn: https://www.linkedin.com/company/hackvc
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