Ethereum-focused Aztec Network lands $100m Series B
Ethereum-focused Aztec Network has landed a $100 million Series B round as it embarks on its mission to make Ethereum fully encrypted and expand its capabilities.
Ethereum encryption firm Aztec lands $100m Series B
The firm is building blockchain encryption “without trade-offs”, with its architecture enabling blockchain applications to be “verifiable, trustless and secure”.
The Series B was led by a16z crypto and saw participation from A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi and AVG.
Aztec says its partnership with a16z will fund development of a “next-generation” encrypted architecture, allowing users to verify that blockchain rules were followed correctly without revealing any underlying information.
The firm is developing a new public-private execution layer secured by Ethereum, allowing for the interplay of encrypted and unencrypted applications, “all on our own blockchain”.
Aztec co-founder Joe Andrews says: “With a16z we are standing on the shoulders of giants to bring the encryption we have enjoyed since Netscape to our digital Web3.0 lives. We couldn’t think of a better partner to help us scale Aztec to mainstream.”
Aztec Network CEO Zac Williamson says: “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.”
