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Aligned raises $34M to expand DeFi and Web3 infrastructure
The capital raised will be used to expand its core products for Ethereum-compatible blockchains such as Layer 2 networks Aligned's founder is the former chief strategy officer at ConsenSys Aligned, a DeFi and Web3 infrastructure company, has secured $34 million in funding, the company announced on Thursday. Investors include GSR, Altium Capital and Cavalry Fund, as well as individual investors such as film producer Happy Walters. This is the company's first round of funding, founder Sam Cassatt told Blockworks. Cassatt, a former chief strategy officer at ConsenSys, said he founded Aligned to provide products for mining, high performance computing and...
Aligned raises $34M to expand DeFi and Web3 infrastructure
- Das eingeworbene Kapital wird für den Ausbau seiner Kernprodukte für Ethereum-kompatible Blockchains wie Layer-2-Netzwerke verwendet
- Der Gründer von Aligned ist der ehemalige Chief Strategy Officer bei ConsenSys
Aligned, a DeFi and Web3 infrastructure company, has secured $34 million in funding, the company announced Thursday.
Investors include GSR, Altium Capital and Cavalry Fund, as well as individual investors such as film producer Happy Walters. This is the company's first round of funding, founder Sam Cassatt told Blockworks.
Cassatt, a former chief strategy officer at ConsenSys, said he founded Aligned to offer products for mining, high-performance computing and staking, as well as liquidity provision through full-stack immutable infrastructure for DeFi (decentralized finance).
“[We’re taking] a deep and thoughtful look at what the next generation infrastructure for Web3 looks like,” Cassatt noted. “Web3 will have different architectures than Web2, and for us we don’t just buy off-the-shelf hardware or rent it from AWS, we build custom hardware.”
Over the past 12 months, demand for DeFi has grown astronomically. The total value locked in DeFi protocols increased 237% year-over-year from $55.36 billion to $186.55 billion, Data from DeFi llama shows.
“Demand will continue to increase,” Cassatt said. “I don’t see this slowing down, it’s getting bigger every day.”
The capital raised will be used to expand its core products for Ethereum-compatible blockchains such as Layer 2 networks.
“My background is very dedicated to Ethereum, and we are helping bring it to market,” Cassatt told Blockworks. “However, we would be remiss to focus solely on the Ethereum network.”
Overall, liquidity needs to be provided across many new architectures and frameworks, and Cassatt said the company is working as much as possible to be agnostic to tokens and networks themselves.
Going forward, the company plans to continue expanding the Web3 architecture to create more opportunities for crypto companies building in this space, Cassatt said.
“We hope we can help secure networks and help companies get off the ground faster because we have infrastructure they can use.”
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The post Aligned Raises $34M To Grow DeFi and Web3 Infrastructure is not financial advice.