A Santa Clara startup working on blockchain-related technologies has raised an $81 million in a Series A round, the company announced Tuesday.
Founded last year, Auradine Inc. is working on energy efficient chips, so-called zero-knowledge proof technology and artificial intelligence designed for use with Web3 applications, according to its website. Its team includes veterans of such companies as Palo Alto Networks Inc., Marvell Technology Inc., Intel Corp, Google LLC and Wells Fargo & Co., according to Auradine.
Celesta Capital and Mayfield led the startup's new round. Other investors included Marathon Digital Holdings, Cota Capital, DCVC, and Stanford University. The company plans to use its new cash to develop its technology and work on commercializing it, Rajiv Khemani, its CEO and co-founder, said in a press release.
"We are delighted to receive the support of top-tier investors who share our vision and passion for building the web infrastructure of the future," said Khemani, the founder and former CEO of Innovium Inc. That company was acquired by Marvell Semiconductor in August 2021 for $1.1 billion and Khemani started Auradine the following year.
The startup offered few details in its press release or on its website about what it's actually developing. Khemani was not immediately available for comment.
Auradine's new round comes as much of the hype around blockchain and cryptocurrency startups has abated in the wake of the failure of multiple such companies last year, including, notoriously, FTX Trading Ltd.
