Coinspeaker
Aligned Layer Successfully Raised $20M in Series A Funding Round Led by Hack VC

Aligned Layer, a universal verification layer for the Ethereum (ETH) network via the EigenLayer, has announced the closure of its Series A funding round with $20 million. According to the announcement, the company’s Series A funding round was led by Hack VC. The company also received tremendous support from DAO5, L2Iterative, FinalityCap, Symbolic VC, Theta Capital, J17, EVG Ventures, Decima fund, and Protagonist, among others.

The strategic funds will be used to further build the necessary infrastructure to enable Ethereum to become a scalable blockchain. Furthermore, the Ethereum network is the leading web3 ecosystem with a vast majority of its TVL already bridged to and from other smart contract-enabled chains through its EVM.

“We believe that by reducing barriers and friction for newcomers, decreasing the proving time, and lowering the costs of on-chain verification, we will unlock unprecedented levels of exploration and innovation within the space,” Aligned Layer noted.

The Aligned Layer team has been conducting a simple testnet working with Cosmos SD...