Blockchain Capital Leads $40 Million Funding Round for Crypto Firm RISC Zero

Contents

• A new basis for the internet of the future
• Democracy in Zero-Knowledge Computing

RISC Zero, a firm that develops zero-knowledge (ZK) proof software, has acquired $40 million in a Series A fundraising round lead by Blockchain Capital, a significant crypto-focused investor.

RISC Zero said in its investment round release that the new funds would be utilised to bring its Bonsai computing platform to market.

Bonsai is a platform that lets developers to concentrate on writing code while the platform handles the difficulties of proof orchestration and server architecture.

This will, according to the company, "bring massively parallel ZK-proving functionality to any developer, in any language, on any chain."

A new basis for the internet of the future

In response to the funding, RISC Zero CEO and co-founder Brian Retford said that his team is honoured to be backed by investors who wish to assist his company accomplish a "revolution in computing capability."

"We're excited to play a role in laying a more open and trusted foundation for the internet's future," Retford said.

"Democracy in Zero-Knowledge Computing"

Blockchain Capital, a San Francisco-based business renowned as one of the oldest and most active investors in the crypto sector, announced the closure of the $40 million round on Twitter.

RISC Zero is "democratising zero-knowledge computing" via the use of cryptography, according to Blockchain Capital.

"As we look forward to a world where zero-knowledge computation is commonplace, the possibilities for innovation are limitless." "RISC Zero's Bonsai network [...] will democratise ZK computation and empower developers to create secure, private, and trustless applications across multiple domains," the venture investor said.

Bain Capital Crypto, Galaxy Digital, IOSG Ventures, RockawayX, Maven11, Fenbushi Capital, Delphi Digital, Aglaé Ventures, IOBC Capital, Tribute Labs' zeroDAO, and Alchemy also participated in the round.

RISC Zero earned $12 million in a seed fundraising round headed by Bain Capital Crypto in August of last year.

The recent fundraising round is just another example of a crypto-native startup defying the trend of falling venture capital investments in the crypto space.

Other recent fund-raising successes include the crypto VC company CoinFund, which announced this week that it had collected $158 million for a new crypto seed fund.