RISC Zero Raises $40 Million in Series A Round to Bring Bonsai Computing Platform to Market
The startup RISC Zero has secured $40 million in a Series A funding round led by Blockchain Capital. The investment will enable RISC Zero to launch its Bonsai computing platform, which helps developers build zero-proof software for enhanced security and computational power. Other investors in the round include Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, Tribute Labs’ Zero Dao, and Alchemy.
Key points:
- RISC Zero’s infrastructure aids developers in creating zero-proof software.
- Zero-knowledge proofs utilize cryptography to validate transactions while maintaining privacy.
- RISC Zero released an open-source, zero-knowledge virtual machine (zkVM) in March 2022.
- The forthcoming Bonsai computing platform is a decentralized proving engine that allows easy integration of zk proofs into applications and chains.
- RISC Zero’s technology enables developers to build applications using familiar tools and languages with fewer restrictions on code complexity.
This latest funding round follows RISC Zero’s previous seed funding round of $12 million in August 2022, led by Bain Capital.
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Hot Take
The significant investment in RISC Zero demonstrates the continued interest and support for infrastructure projects within the crypto industry. The development of the Bonsai computing platform will provide developers with accessible tools to enhance the security and computational capabilities of their applications. This advancement has the potential to attract more developers to crypto, as they can leverage familiar programming languages and tools while still benefiting from the power of zero-proof software.
