Startup RISC Zero raises $40 million in Series A round

Developing a virtual machine based on zero-knowledge proof technology (ZKPRISC Zero has raised $40 million in a Series A funding round.

It was led by Blockchain Capital, joined by the leader of the previous round, Bain Capital Crypto. Other contributors include Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, and Alchemy.

“RISC Zero’s mission is to provide developers and infrastructure providers with cryptographic tools to support the next generation of trustless, scalable and decentralized computing both on and off the network,” the press release reads.

The RISC Zero ZK Virtual Machine (zkVM) allows you to build ZKP-based applications using traditional programming languages ​​like Rust and C++. The expanded functionality of the solution makes it possible to run programs of arbitrary complexity and volume, the team said.

The startup will direct funding to launch its own Bonsai computing platform. The solution supports the development and deployment of applications in both cloud and decentralized environments.

Recall that in the second quarter, investments in the Web3 segment fell by 76% compared to the previous period – to $ 1.8 billion.

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