a16z Invests Additional $70 Million in EigenLayer for EigenCloud Launch
Venture capital firm Andreessen Horowitz (a16z) invested an additional $70 million in EigenLayer, Ethereum's largest restaking protocol, to support the launch of EigenCloud. Key points include:
- The investment follows a16z's previous $100 million Series B funding in February 2024.
- EigenLayer currently secures over $12 billion in restaked assets.
- EigenCloud offers “verifiability-as-a-service” for developers, enabling trustless applications that operate off-chain while linking to the Ethereum blockchain.
- Companies like Securitize will utilize EigenCloud for verifying asset pricing data related to BlackRock’s $2 billion BUIDL fund.
- New services introduced include EigenVerify for dispute resolution and EigenCompute for off-chain execution.
- EigenCloud targets sectors such as AI, media, betting markets, and enterprise software.
- The alpha rollout includes performance upgrades, dispute tooling, and a roadmap for phased developer access.
EigenCloud aims to bridge the gap between developers' needs and blockchain capabilities, facilitating new crypto-native and Web2-integrated applications.