Blockchain Capital Participates in RISC Zero’s $40M Funding Round

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RISC Zero, the startup behind the zero-knowledge proof (ZKP) Virtual Machine, has raised $40 million in Series A funding.

The round was led by Blockchain Capital, with contributions from Bain Capital Crypto, Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, and Alchemy.

The funds will be used to launch the Bonsai computing platform and further develop the zkVM, which enables developers to build ZKP-applications in languages such as Rust or C++.

This round follows a 76% decline in the Web3 sector from the previous quarter, bringing the total investments to $1.8 billion.