Aligned Layer, an Ethereum startup,
Aligned Layer, a startup that is considered a “universal verification layer for Ethereum,” has announced that it successfully raised $2.6 million in seed funding. The funding round was led by Lemniscap, a firm with seven years of experience in the crypto blockchain space. Lemniscap previously led a $2.4 million funding round for web3 startup Safary. Other backers of Aligned Layer include Bankless Ventures, Paper Ventures, StarkWare, O(1)Labs, and Ingonyama CEO Omer Shlomovits.
Aligned Layer, which describes itself as the first decentralized ZK Proof verification layer for Ethereum, is powered by Eigen Layer. Eigen Layer is a restaking mechanism that allows ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to enhance security for other protocols.
The capital raised will be used by Aligned Layer to expand its operations and accelerate the mainnet launch, which is scheduled for the second quarter of 2024. The company aims to lower costs and improve speeds for developers building applications like L2s, or layer-2 networks.
Roberto José Catalán, co-founder of Aligned Layer, expressed his team’s dedication to making Ethereum the most cost-effective and efficient platform for ZK verification by using Eigen Layer.
In addition to the seed round, several angel investors also participated, including Sreeram Kannan, Brandon Kase, Daniel Lubarov, DCbuilder, Chainyoda, Weikeng Chen, Sam Benyakoub, Lucas Kozinski, and Peter Fittin (SizeChad).
The funding received will provide Aligned Layer with enough resources to achieve its near-term goals. The announcement comes during a busy period for crypto venture capitalists, with significant funding rounds for companies such as Monad Labs and Mezo.
While global investors have invested $2.5 billion into crypto-related startups in the first quarter of 2024, funding for blockchain-related gaming companies has seen a decrease of 57% compared to the previous three-month period, according to data from DappRadar.
