Blockchain Startup Aztec Network Raises $100M in Series B Led by VC Andreessen Horowitz

Blockchain Startup Aztec Network, a privacy layer 2 chain for Web3, has raised $100 million in a Series B financing, which follows a $17 million raise that closed last year.  

The funding was led by venture capitalist Andreessen Horowitz (a16z).  A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi and AVG.5 also participated in the round. 

As part of its partnership with a16z, the company will fund the development of encrypted architecture that enables users to verify that the rules of the blockchain have been followed correctly without revealing any sensitive information about the underlying technology. 

“Encryption allows DeFi applications to provide a much broader range of financial services, and unlocks new capabilities for gaming, identity, AI, and much more,” Andreessen Horowitz General Partner Ali Yahya and partner Guy Wuollet wrote in a blog post. 

Aztec Network’s encrypted Ethereum blockchain will build on the encryption technologies that it has developed as part of an earlier project known as zk.money. It’s a blockchain built on Ethereum that enables users to carry out digital asset transactions.