Emerging Web3.0 Protocol Aligned Secures $34M in Venture Funding
Operating in “Stealth Mode” for some time now, emerging Web3.0 and Decentralized Finance (DeFi) protocol, Aligned has announced it has secured the sum of $34 million from investors as it seeks to advance the reach of the emerging Web3.0 world.
Through the funding, Aligned is on track to carve out a niche for its in the DeFi ecosystem with an over $186 billion market valuation. Despite the competition around in the industry today, Aligned offers a lot of targeted products and services, including solutions for mining and high-performance computing, staking, and liquidity provisioning, while supporting decentralization through an immutable, full-stack infrastructure for DeFi. These are highly in demand and will give Aligned a massive lifting in DeFi’s competitive world.
“We see Aligned as Web3’s answer to AWS. We are building custom hardware, tooling, and infrastructure at every layer of the stack, which enables us to support decentralized networks and leverage the crypto assets needed to operate decentralized tech. This all goes towards creating massive upside for our clients,” said Sam Cassatt, founder, and CEO of Aligned.
In the statement, Cassatt also mentioned that the startup is lucky to “have the support of like-minded investors who understand the opportunity to create a more perfect business model for running Web3 infrastructure. Our team has ambitious plans to optimize every layer of blockchain, from data centres to DeFi applications, and this fundraising is just the beginning of a breakthrough year for Aligned and our partners.”
While Aligned has a very promising product offering outlook, the profile of Cassatt as a former Chief Strategy Officer at ConsenSys and a notable investor and early Ethereum adopter has given investors more confidence to back the protocol. As announced by the firm, the funding round enjoined participation from GSR, Altium Capital, Cavalry Fund, and Ninja4 amongst other investors with no prominent lead.
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