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Aligned Layer Raises $2.6 Million in Venture Capital Funding for Ethereum Verification Platform

Aligned Layer, a startup specializing in providing a “universal verification layer for Ethereum,” has confirmed a successful seed funding round, securing $2.6 million in investment. Lemniscap, a well-established firm with a history of supporting ventures in the crypto blockchain space, led the funding effort. This marks another milestone for Lemniscap, following their leadership in a previous $2.4 million funding round for web3 startup Safary in January.

Joining Lemniscap in backing Aligned Layer are Bankless Ventures and Paper Ventures, along with notable contributors such as StarkWare, O(1)Labs, and Ingonyama CEO Omer Shlomovits.

Aligned Layer, heralded as the first decentralized ZK Proof verification layer for Ethereum, announced the successful capital raise via social media. The startup’s innovative approach is powered by Eigen Layer, a restaking mechanism enabling ETH stakers to enhance security for other protocols by reallocating their staked ETH and Liquid Staking Tokens (LSTs).

With the influx of funding, Aligned Layer is poised to expand its operations and accelerate the launch of its mainnet, slated for the second quarter of 2024. As an infrastructure provider, the company aims to streamline development processes for applications like layer-2 networks, promising to reduce costs and improve speeds for developers.

Aligned Layer’s co-founder, Roberto José Catalán, expressed gratitude for the support, emphasizing the team’s commitment to enhancing Ethereum’s efficiency and cost-effectiveness for ZK verification through Eigen Layer.

The seed round also saw participation from notable angel investors, including Sreeram Kannan, Brandon Kase, Daniel Lubarov, DCbuilder, Chainyoda, Weikeng Chen, Sam Benyakoub, Lucas Kozinski, and Peter Fittin (SizeChad). Catalán highlighted Aligned Layer’s mission to empower developers with flexible proof systems tailored to their needs, unconstrained by settlement layer limitations.

The funding infusion is expected to provide Aligned Layer with ample resources to achieve its near-term objectives. This news comes amidst a flurry of activity in the crypto venture capital space, with notable investments in projects like Monad Labs and Mezo, reflecting continued confidence in blockchain innovation. However, blockchain-related gaming companies have seen a decline in investor interest, as evidenced by a decrease in funding compared to previous quarters, according to data from DappRadar.

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