Privacy-focused Aleo project raises $200 million

A privacy-focused platform for building decentralized applications, Aleo, has closed a $200 million Series B funding round. The round was led by SoftBank Vision Fund 2 and Kora Management.

🎉 Excited to announce Aleo has raised $200M in a #SeriesB round led by @Koracap and @Softbank, with participation from Tiger Global, Sea Capital, @a16z, @slow, and @SamsungNext to build the next-generation platform for private apps powered by zero-knowledge proofs.🎉

— Aleo (@AleoHQ) February 7, 2022

Financing was also provided by Tiger Global, Andreessen Horowitz (a16z), Samsung Ventures, Slow Ventures, and Sea Capital.

Under the terms of the deal, SoftBank and Kora each received one seat on Aleo’s board of directors. As of writing, the seats had not been allocated to specific representatives of the companies, said Aleo’s CEO and CTO Howard Wu in comments to The Block.

Platform representatives added that they would expand the Aleo developer grants program from $1 million to $5 million.

With this funding, we’ll be advancing the state of zero-knowledge provers, while expanding our products and services for developers everywhere. And to accelerate our developer ecosystem, we’re excited to increase the Aleo developer grants program from $1M to $5M 💰 Time to build!

— Aleo (@AleoHQ) February 7, 2022

The project aims to facilitate the creation of zero-knowledge proof-based applications used for privacy and data security.

Aleo’s idea is an internal ecosystem that goes beyond simply building yet another privacy-protecting application, such as a virtual private network. The mainnet launch is planned for Q3 2022.

Earlier in April 2021, the platform Aleo attracted $28 million from a16z, Coinbase Ventures, Galaxy Digital, Polychain Capital and other investors.

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