The startup of the ex-manager ConsenSys raised $34 million

by in Cryptocurrency News

Sam Cassat

Founded by former ConsenSys chief strategy officer Sam Cassatt, Aligned has raised $34 million in funding. The firm is building a Web 3.0 infrastructure.

Aligned was backed by GSR, Altium Capital, Cavalry Fund, and Ninja4, as well as several business angels. There was no lead investor in the round.

According to Cassatt, the firm aims to become the cloud-based Amazon Web Services for the future of the decentralized internet. The startup's hardware and infrastructure make it possible to create such a solution, the entrepreneur believes.

“We create special equipment from many components. Some of them are ready-made chips. There are many applications for this equipment, and one of them is the mining of various cryptocurrencies, including Ethereum and others,” said Cassatt.

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He added that Aligned is also building a staking infrastructure and is a liquidity provider in DeFi, contributing 15,000 ETH to the sector protocols.

Cassatt announced plans to expand Aligned's activities and increase the size of the team, which now has 30 people.

“Building data centers and manufacturing equipment are capital-intensive activities, so additional capital will be required to fully implement our model,” he said.