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Blockchain platform Alchemy raises 250M in Series C led by Andreessen Horowitz

San Francisco-based blockchain internet companies firm Alchemy introduced a $250 million Collection C fundraising spherical led by Andreessen Horowitz on Thursday, bringing its present valuation to $3.5 billion.

This announcement comes scorching on the heels of a late April $80 million Collection B, which beforehand valued the startup at $505 million. Pantera Capital, Redpoint, Lightspeed Enterprise Companions, Coatue, DFJ and Lee Fixel’s Addition additionally participated within the Collection C spherical. In accordance with founders Nikil Viswanathan and Jon Lau, the corporate is “very worthwhile” and to date, has not spent any of that cash, however plans to make use of the brand new capital to construct a neighborhood round blockchain.

Alchemy was based in 2017 however didn’t launch its product till August of 2020. In accordance with reporting from TechCrunch, the corporate’s thirty-seven staff now service purchasers that embrace each main nonfungible token (NFT) platform, UNICEF, Adobe and PricewaterhouseCoopers, powering in extra of $45 billion in transaction quantity.

The corporate wrote in its weblog publish announcement:

“Alchemy is doing for blockchain and Web3 what AWS did for the web. It gives builders with the instruments they should simply and effectively create mainstream blockchain purposes, serving to them flip their concepts into wildly profitable companies”

Alchemy presently has two workplaces (one in New York and one in San Francisco) however indicated that they intend to open extra in the USA and overseas.

Viswanathan and Lau, who additionally function the corporate’s CEO and chief coaching officer, respectively, attended Stanford College and labored at Google previous to their newest enterprise. Traders from early fundraising rounds included celebrities like Jay Z and Will Smith and Yahoo Founder Jerry Yang. “Empowering builders is the important thing to bringing the magic of blockchain to the world,” Viswanathan wrote in a press release on the time.

Alchemy beforehand introduced its partnership with blockchain leisure platform Circulation on March twenty fifth. Cointelegraph alsoreportedin Julythat the corporate was constructing new instruments in an effort to remodel blockchain improvement.

Again in June, Andreessen Horowitz launched a $2.2 billion fund centered on crypto enterprise funding. On the time, it was the biggest ever of its type.


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