Aztec Network Raises $100 Million in Series B Funding Round

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.

The firm is building blockchain encryption 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.

Aztec co-founder Joe Andrews said: "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 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."

Source: FINTECH FUTURES