Privacy-minded Blockchain Aleo Raises $200M Prior to Mainnet Launch

The capital raise boosts the platform’s valuation to $1.45 billion, following its $28 million Series A led by a16z in April 2021

article-image

Source: Shutterstock

share

key takeaways

  • “As the blockchain industry continues to evolve, it is proving its potential to support a digital ecosystem defined by accessibility, efficiency, and interoperability,” Aaron Wong, investor at SoftBank Investment Advisers, said in a statement
  • The platform is planning to launch its mainnet later this year

Aleo, a privacy-minded blockchain network, has raised $200 million in preparation for its mainnet launch later this year.

Aleo’s Series B funding round was led by Kora Management and SoftBank Vision Fund 2. Other participants include Tiger Global, Sea Capital, Slow Ventures, Samsung Next and Andreessen Horowitz, a16z.

Aaron Wong of SoftBank investment in a statement said the next generation of blockchain technology will be defined by “accessibility, efficiency, and interoperability.”

“We believe Aleo is building the foundational layer that will ensure that the future of Web3 is scalable, safe and secure, enabling a range of applications such as gaming and financial transactions,” Wong said.

The capital raise boosts the platform’s valuation to $1.45 billion, following its $28 million Series A led by a16z in April 2021. As the platform works to launch its mainnet later this year, the funding will be used to develop products and services to build out an ecosystem on top of its decentralized network.

“The two biggest challenges in the blockchain space are privacy and scalability,” Daniel Jacobs, founder at Kora Management, said in a statement. “Aleo is building a foundational layer that addresses both, which we believe will help to catalyze and grow the next generation of truly mass-market use cases in blockchain, from gaming to DeFi and beyond.”

Unlike other blockchains like Ethereum, Aleo transactions are processed off-chain and only verified by the network nodes. The setup allows the platform to support high transaction volumes and empower developers to create decentralized applications, or dApps, that address complex use cases. 

“Our goal at Aleo is to build the foundations for the next generation of decentralized web applications,” Howard Wu, CEO and chief technology officer of Aleo, said in a statement. “We want to use technologies, such as zero-knowledge proofs and blockchains, to create an ecosystem for developers that enriches and empowers users’ capabilities on the web.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (1).jpg

Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.

article-image

Financial advisers in a January survey said equity ETFs were their top choice for gaining crypto exposure in 2025

article-image

“Why put a target out there that’s really speculative, not knowing exactly where this environment is going to go?” CarMax CEO Bill Nash said

article-image

While the head of Base may support legal sex work, Coinbase policies prohibit said workers from using its exchange.

article-image

EVM bottlenecks fundamentally hold back Ethereum’s scalability

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team