Privacy-focused Web3 company Aztec Network raised $100 million in a Series B round led by investment fund a16z.
In addition, the funding round also included A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi, and AVG.
Accordingly, the company planned to use the invested capital to develop a cryptographic architecture for individuals to use blockchain without revealing identity information.
Additionally, Aztec is about to double its current 40-person team, the co-founder told TechCrunch.
Aztec is an Ethereum blockchain fully encrypted solution to promote privacy and reduce computational redundancy, founded in 2017 by Zac Williamson and Joe Andrews.
“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,” Aztec Network CEO Zac Williamson said in a statement. “End-to-end encrypted blockchains protect individuals, obviating the need for centralized financial systems.”
Earlier this month, a16z also led a $6.9 million funding round into the decentralized video-sharing platform Shibuya.