RISC Zero Raises $40 Million in Series A Funding Round to Bring Bonsai Computing Platform to Market

RISC Zero, a startup specializing in zero-knowledge (ZK) proof software, has successfully raised $40 million in a Series A funding round. The leading investor in this round was Blockchain Capital, a prominent crypto-focused investment firm. RISC Zero plans to utilize the newly acquired capital to launch its Bonsai computing platform.

Bonsai: Simplifying Application Development

Bonsai is a revolutionary platform that allows developers to concentrate on coding their applications, while the platform handles the complexities associated with proof orchestration and server infrastructure. The company claims that Bonsai will enable developers, regardless of the programming language or blockchain they are using, to access massively parallel ZK-proving functionality.

RISC Zero’s Vision for Computing Capability

Brian Retford, CEO & co-founder of RISC Zero, expressed his gratitude for the support received from investors who share his firm’s vision of transforming computing capability. He stated that RISC Zero is thrilled to contribute to the creation of a more open and reliable foundation for the future of the internet.

Blockchain Capital’s Perspective on RISC Zero

Blockchain Capital, known for being one of the oldest and most active investors in the crypto ecosystem, took to Twitter to announce the successful closure of the $40 million funding round. The firm praised RISC Zero for its efforts in democratizing zero-knowledge computing through the use of cryptography. They believe that RISC Zero’s Bonsai network will empower developers to create secure, private, and trustless applications in various domains, thereby fostering innovation.

Notable investors who participated in the funding round alongside Blockchain Capital include Bain Capital Crypto, Galaxy Digital, IOSG Ventures, RockawayX, Maven11, Fenbushi Capital, Delphi Digital, Aglaé Ventures, IOBC Capital, Tribute Labs’ zeroDAO, and Alchemy. This marks another achievement for RISC Zero, as they had previously raised $12 million in a seed funding round led by Bain Capital Crypto.

This recent funding success highlights the resilience of crypto-native firms in attracting investments, despite the decline in VC funding for the crypto sector. CoinFund, a crypto VC firm, is another company that has experienced fundraising success, recently securing $158 million for a new crypto seed fund.