<p>An array of crypto industry investors led by a16z has backed the $28 million funding round for Aleo, a platform designed to support decentralized, private applications.</p> <p>The project is aimed at making it easier for developers to create applications that employ blockchain tech and zero-knowledge cryptography, the latter of which effectively enables one party to prove to another that they possess certain, private information without actually having to reveal it. Zero-knowledge cryptography has been applied to varying areas in the crypto sphere, including privacy-focused blockchain networks. </p> <p>Aleo's platform "offers a full-stack solution for zero-knowledge, making ZK programmable at every level of the application stack for real-world use to enable decentralized private computing at scale," the startup said Tuesday.</p> <p>"Aleo’s platform provides end-to-end tools that enable the development, deployment, and sustainability of privacy-preserving applications. With Aleo, applications and user interactions are private-by-default," the firm said in its announcement.</p> <p>As noted by The Block's John Dantoni in <a href="https://www.theblockresearch.com/mapping-out-a16z-cryptos-portfolio-93265" target="_blank" rel="noopener">a February breakdown</a> of its crypto investment portfolio, a16z already has stakes in several privacy-oriented projects. These include Oasis Labs, Keep and Orchid.</p> <p><img class="alignnone size-full wp-image-93554" src="https://www.tbstat.com/wp/uploads/2021/02/Screen-Shot-2021-02-02-at-8.32.06-PM.png" alt="" width="1528" height="978" /></p> <p>"We are thrilled to support the stellar team behind Aleo as they bring private programmable applications to the wider market," Kathryn Haun, a general partner at a16z, said in a statement. "Privacy-preserving applications allow users to navigate digital interactions without bias, which coupled with blockchain technology, will create new opportunities for value creation."</p> <p>Other investors in the Aleo round include Placeholder, Coinbase Ventures, Galaxy Digital, Polychain Capital, Scalar Capital, Slow Ventures, Variant Capital, Balaji Srinivasan and Ethereal Ventures, among others. </p>