Aligned Has Raised $34M Funding To Grow DeFi and Web3 Infrastructure

DeFi and Web3 infrastructure company gains $34M funding

DeFi and Web3 infrastructure company Aligned, founded by Sam Cassatt, the former Chief Strategy Officer of ConsenSys, has raised $34 million in a funding round.

GSR, Altium Capital, Cavalry Fund, and Ninja4 are among the investors who have contributed to the funding.

Former ConsenSys employee and Darma Capital founder Andrew Keys, Gryphon Digital Mining executive Chris Ensey, entrepreneur Steve Wiggins, and PayPal employee Ron Patiro were among the angel investors. The money raised will be used to expand Aligned Capital’s high-performance computing capabilities.

This round of funding was provided to help Aligned in expanding its Web3 infrastructure. Aligned currently sells mining hardware for cryptocurrencies like Ethereum (ETH) and other activities. Aligned aspires to be the Amazon Web Services for Web3.

“We are buying silicon, manufacturing and installing the custom hardware that we produce with that silicon, as well as expanding our HPC (high-performance computing) team. Most of this hardware will go into our primary data center and will be expanding to more soon,” the Aligned founder said.

The founder of Aligned believes that DeFi will continue to grow as demand rises. According to Defilama data, demand for DeFi has increased by more than 230% in the last year, from $55.36 billion to $186.55 billion in total value locked in DeFi protocols.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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