{"id":38386,"date":"2023-07-20T19:27:37","date_gmt":"2023-07-20T23:27:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-firm-risc-zero-secures-40m-funding-round-led-by-blockchain-capital\/"},"modified":"2023-07-20T19:27:39","modified_gmt":"2023-07-20T23:27:39","slug":"crypto-firm-risc-zero-secures-40m-funding-round-led-by-blockchain-capital","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38386","title":{"rendered":"Crypto Firm RISC Zero Secures $40M Funding Round Led by Blockchain Capital"},"content":{"rendered":"
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RISC Zero, a startup that builds zero-knowledge (ZK) proof software, has raised $40 million in a Series A funding round led by the major crypto-focused investor Blockchain Capital.<\/p>\n

In its announcement of the closing of the funding round, RISC Zero said the fresh capital will be used to bring its Bonsai computing platform to the market.<\/p>\n

Bonsai is a platform that allows developers to focus on coding their application, while the platform takes care of complexities related to proof orchestration and server infrastructure.<\/p>\n

According to the firm, this will \u201cbring massively parallel ZK-proving functionality to any developer, in any language, on any chain.\u201d<\/p>\n

A new foundation for the future internet<\/h2>\n

Commenting on the raise, Brian Retford, CEO & co-founder of RISC Zero, said his team is honored to be supported by investors that want to help his firm create a \u201crevolution in computing capability.\u201d<\/p>\n

\u201cWe’re excited to play our part in building a more open and trusted foundation for the future of the internet,\u201d Retford added.<\/p>\n

\u2018Democratizing zero-knowledge computing\u2019<\/h2>\n

The news that the $40 million round is now closed was shared on Twitter by Blockchain Capital, the San Francisco-based firm known as one of the oldest and most active investors in the crypto ecosystem.<\/p>\n

According to Blockchain Capital, RISC Zero is \u201cdemocratizing zero-knowledge computing\u201d through the use of cryptography.<\/p>\n

\u201cAs we look to a future where zero-knowledge computation is widespread, the possibilities for innovation are boundless. RISC Zero\u2019s Bonsai network [\u2026] will democratize ZK computation and empower developers to create secure, private, and trustless applications in various domains,\u201d the venture investor further said about the project.<\/p>\n

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In addition to Blockchain Capital, the round was joined by Bain Capital Crypto, Galaxy Digital, IOSG Ventures, RockawayX, Maven11, Fenbushi Capital, Delphi Digital, Agla\u00e9 Ventures, IOBC Capital, Tribute Labs\u2019 zeroDAO, and Alchemy.<\/p>\n

In August of last year, RISC Zero raised $12 million in a seed funding round led by Bain Capital Crypto.<\/p>\n

The latest funding round is another example of a crypto-native firm that is bucking the trend of declining VC investments into the crypto sector.<\/p>\n

Other firms that have had some success in raising money recently include the crypto VC firm CoinFund, which this week said it had raised $158 million for a new crypto seed fund.<\/p>\n<\/p><\/div>\n