The funding round was led by venture capital firm HackVC and included participation from DCVC, Amplify Partners, Coinbase Ventures, CRV, OpenSea and CSquared. The funds will be used to make Leo compatible with other ZK-proof blockchains and develop Web3 applications for enterprises.
Demox Labs co-founder and CEO Barron Caster saw the wallet’s launch and fundraise as the start of a new privacy-focused era in Web3: “Leo Wallet is just one example of how [zero-knowledge proofs] will empower individuals to use modern technologies and maintain legal and regulatory compliance without sacrificing personal privacy […] Sharing sensitive data will soon become an option, not a requirement.”
In a conversation with Cointelegraph, Aleo CEO Alex Pruden echoed that sentiment. He said zero-knowledge privacy technology is unique because it allows for “programmable privacy.” He added: “Everything you can do on Ethereum, you can do in Aleo, but privately.”