{"id":54844,"date":"2021-12-17T09:31:34","date_gmt":"2021-12-17T07:31:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54844"},"modified":"2025-09-03T22:25:36","modified_gmt":"2025-09-03T19:25:36","slug":"aztec-closes-17-million-series-a-led-by-paradigm-and-other-investors","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/aztec-closes-17-million-series-a-led-by-paradigm-and-other-investors\/","title":{"rendered":"Aztec closes $17 million Series A led by Paradigm and other investors"},"content":{"rendered":"<p>The London-based startup Aztec closed a $17 million Series A round, led by Paradigm.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We&#8217;re thrilled to announce that Aztec Network has raised a $17 million Series A led by <a href=\\\"https:\/\/twitter.com\/paradigm?ref_src=twsrc%5Etfw\\\">@paradigm<\/a> to bring programmable privacy to Web3. <a href=\\\"https:\/\/t.co\/PiC50vWdwb\\\">pic.twitter.com\/PiC50vWdwb<\/a><\/p>\n<p>\u2014 Aztec (@aztecnetwork) <a href=\\\"https:\/\/twitter.com\/aztecnetwork\/status\/1471480938680840194?ref_src=twsrc%5Etfw\\\">December 16, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The round also included Variant Fund, Nascent, IMToken, Scalar Capital, DeFi Alliance, IOSC Ventures, Zero Knowledge Validator, and previous investors \u2014 a_capital, Ethereal Ventures and Libertus Capital.<\/p>\n<p>The funds will be used to advance the technology of programmable privacy for Ethereum built on ZK-Rollups.<\/p>\n<p>The Aztec standard, known as PLONK, enables a two-tier transaction-processing system. The solution delivers cheaper transactions (up to 100x cheaper than Ethereum) and provides &#8216;verifiable privacy&#8217;, concealing the sender, recipient and transaction amount.<\/p>\n<p>The startup announced the launch on the Aztec Connect testnet, a private bridge for <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> \u2014 the Ethereum ecosystem. Users can conduct confidential transfers and save on transaction fees.<\/p>\n<p>The developers promised to unveil the Connect SDK, which will allow any Ethereum project to integrate Aztec Connect.<\/p>\n<p>Earlier in November, the Polygon team <a href=\"https:\/\/forklog.com\/en\/news\/polygon-unveils-zk-rollups-based-scaling-solution-for-ethereum\">presented<\/a> an L2 solution based on ZK-Rollups and released its central component \u2014 a virtual machine that uses the zk-STARKs protocol as the underlying proof system.<\/p>\n<p>In August 2021, <a href=\"https:\/\/forklog.com\/en\/news\/polygon-acquires-hermez-network-in-250-million-deal\">Polygon acquired the Hermez Network platform<\/a>, a platform specializing in ZK-Rollups-based second-layer scaling solutions. At the time, the project said it would allocate $1 billion toward the development of related products.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The London-based startup Aztec closed a $17 million Series A round, led by Paradigm.<\/p>\n","protected":false},"author":1,"featured_media":54845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1971,46,1179],"class_list":["post-54844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aztec","tag-ethereum","tag-layer-2-solutions"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=54844"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54844\/revisions"}],"predecessor-version":[{"id":54846,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54844\/revisions\/54846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/54845"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=54844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=54844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=54844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}