• February 27, 2024


All the latest cryptocurrency news

Privacy-focused Project Aleo Raises $200M

ByLouis Adams

Feb 8, 2022
Reading time: < 1 minute

Privacy-centered decentralized application platform Aleo has closed a $200 million Series B funding round led by SoftBank Vision Fund 2 and Kora Management.

Other participants include Tiger Global, Andreessen Horowitz (a16z), Samsung Ventures, Slow Ventures and Sea Capital.

As part of the deal, SoftBank and Kora each received one seat on Aleo’s board of directors. At the moment, the seats are not allocated to specific representatives of the companies, Aleo CEO and CTO Howard Wu said.

The platform representatives have added they will expand the Aleo developer grant program from $1 million to $5 million.

The project’s mission is to facilitate the creation of apps based on zero-knowledge proofs used for privacy and data security.