DeFi platform Aleo has raised $200 million in funding

The company has reported the successful completion of a Series B round with large funds

08.02.2022 - 07:55

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What’s new? Aleo, a platform for creating decentralized applications, has announced the completion of its Series B funding round. Following another round of fundraising, the project managed to raise $200 million from a number of venture capital funds and large companies.

🎉 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

Who participated? Most of the funding came from Kora Management and SoftBank Vision Fund 2. Other participants include Sea Capital, Tiger Global, Slow Ventures, Andreesen Horowitz, and Samsung Ventures.

What will the funds be used for? Aleo specializes in the development of decentralized applications with an increased level of privacy. The project plans to use the funding it has raised for the global development of the platform. In addition, part of the funds will be used to increase grants for the developer support program. The launch of the main Aleo network is scheduled for the third quarter of this year.

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