Subzero Labs, a new company in decentralized technologies, announced the completion of a $20 million financing round. The funds will be used for the development of the Rialo platform.
Financing and Investors
Subzero Labs completed its first financing round, raising $20 million, led by Pantera Capital. Other participants included Variant, Coinbase Ventures, Hashed, and Susquehanna Crypto. The attention towards Subzero Labs is confirmed by the participation of leading investors in the crypto industry.
Subzero Labs Team
Founders Ade Adepoju and Lu Zhang, previously working at Mysten Labs, have attracted top talent from major companies such as Meta, Apple, Amazon, Netflix, and Google. The team possesses expertise in developing technologies for decentralized applications, aiming to bridge the gaps between network architecture and app developers' needs.
Rialo's Benefits for Developers
Rialo provides developers with the ability to create decentralized applications with the ease similar to Web2, without the need to integrate unreliable third-party services. The platform includes web connectivity, event-driven transactions, and built-in privacy, ensuring high scalability and rapid app deployment. These features allow developers to take a new level in creating powerful decentralized solutions.
With Subzero Labs' emergence from stealth and the launch of the Rialo platform, developers are expected to gain access to new opportunities in creating decentralized applications, potentially transforming the sector and accelerating its development.
