Crypto company Subzero Labs announced a $20 million round of seed funding spearheaded by Pantera Capital, a Fortune exclusive reports. The money will help Subzero develop Rialo, a blockchain solution designed to make decentralized apps more user friendly and easier to build.
Rialo, short for “real-world blockchain,” is expected to help developers launch internet-scale decentralized apps without relying on legacy network architecture. Intended for non-crypto developers, Rialo would enable engineers to replicate tools typically implemented outside a blockchain, such as information access capabilities that don’t hinge upon the need for an outside data provider, according to reporting by Urban Geekz.
The company’s founders, Ade Adepoju and Lu Zhang, have extensive Web 2.0 and Web3 experience from their time at companies like Meta, Google, Netflix and AMD. As Subzero works to continue building out a full-stack network crafted for real-world applications, it has a head start with backing from investors including Variant, Susquehanna, Mysten Labs and others.
