Aztec Network, which aims to realise the promise of Ethereum, has collected $100m in its Series B funding round, which was led by a16z crypto.
Commitments also came from A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi and AVG.
Through a16z’s support, Aztec hopes to build the next-generation architecture that allows users to verify that blockchain rules were followed correctly without revealing any underlying information.
The goal of Aztec is to take the original promise of Ethereum – a decentralised and verifiable world computer – and expand its capabilities by making it fully encrypted. Through this, it hopes to boost the transparency and trustworthiness of it.
Its encrypted architecture ensures Aztec transactions are always protected, whilst maintaining auditability and compliance.
Aztec Network CEO Zac Williamson said, “What we’re building is a revolutionary piece of technology that transforms how we interact with each other online, in which the end user is the customer, rather than the product. End-to-end encrypted blockchains protect individuals, obviating the need for centralised financial systems.”
There have been several funding rounds in the blockchain and cryptocurrency sectors over the past month.
Amber Group, a cryptocurrency trading company, recently bagged $300m in its Series C funding round, which was led by Fenbushi Capital.
This funding comes after it made several moves to protect itself. Prior to raising the capital Amber shut down its retail operations, began laying off staff and ended a sponsorship deal with Chelsea Football Club, as it seeks to deal with the fallout of the collapse of FTX.
Another recent deal was raised by LumiShare, which collected $3.2m in funding. The company raised the capital from the Abu Dhabi royal family. It offers the $SRG token, which is backed by gold, a cash recovery fund, and technology.
LumiShare keeps a physical gold reserve in Abu-Dhabi equivalent to a percentage of the all-time high market cap. Meanwhile, a cash reserve is built from the margins between the gold market price and the gold price Lishare pays, which will be used automatically for aggressive marketing.
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