Aleo, a blockchain project focused on privacy with zero proof of knowledge technology, received $200 million investment led by names such as SoftBank, a16z.
Privacy focused Aleo raised $200 million led by SoftBank Vision Fund 2 and Kora Management, Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital. Howard Wu, CEO and CTO of the project, told The Block that Aleo plans to start a GitHub-like company.
As part of the deal, SoftBank and Kora each acquired a board seat at Aleo. On the other hand, it was added that the seats have not yet been assigned to certain managers.
Aleo is currently on the testnet and its mainnet is scheduled to launch in the third quarter of this year. When asked how Aleo differs from other zero-knowledge proof-using projects, CEO Wu said that these projects use technology to solve the scalability issue in Ethereum. However, Aleo is developing its own layer one blockchain, which significantly improves both scalability and privacy.
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