Aztec Raises $100M in Series B Led by a16z

Ethereum Layer2 scaling solution Aztec announced it has raised $100m in a Series B funding round led by a16z, with participation from A Capital, King River, Variant and others.

Aztec aims to build a programmable privacy layer for Web3, and to provide privacy security to users by encrypting Ethereum. The fund raised will be used to hire more engineers globally to build the network.

Zac Williamson, co-founder of Aztec, said the network is targeting a testnet launch within 12 months, and to be fully deployed on the mainnet within 8 to 24 months.