Berachain, the pioneering blockchain platform, has surpassed all expectations with a remarkable achievement in its latest funding endeavor, raising an impressive $100 million in its Series B round. Spearheaded by Brevan Howard Digital’s Abu Dhabi division and Framework Ventures, the round garnered significant support from major players such as Polychain Capital, Hack VC, and Tribe Capital, who all backed Berachain through a “SAFT” (Simple Agreement for Future Tokens), as reported by Bloomberg.
This recent financial triumph marks a substantial leap from earlier projections, which had estimated funding at approximately $69 million, with a valuation slated to hit at least $1 billion. Notably, Berachain has chosen not to disclose a revised post-funding valuation at this juncture.
The platform, which seamlessly integrates with Ethereum, has recently introduced a test version, already boasting a noteworthy transaction volume exceeding 100 million. This milestone underscores investors’ burgeoning interest and burgeoning confidence in Berachain’s technological infrastructure.
Berachain has reimagined the conventional blockchain trilemma, comprising real users, developers, and capital formation, into the innovative Proof of Liquidity flywheel. In a recent tweet, Smokey The Bera, one of the co-founders, joyfully announced the successful $100M raise, co-led by @BHDigitalAssets and @hiframework, signaling a new phase of growth for the platform.
In the realm of venture capital within the cryptocurrency domain, a staggering 32% growth was witnessed in the last quarter, culminating in a total investment of $2.5 billion, as per Pitchbook data cited by Bloomberg. This upward trajectory reflects a bolstering of investor confidence in blockchain startups and cryptocurrencies as a whole.
The capital procured in this funding round will be instrumental in bolstering Berachain’s presence in key markets, including Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. This expansion blueprint underscores the platform’s global aspirations and its resolve to solidify its foothold in the blockchain sphere.
Smokey The Bera, sharing his buoyant sentiments on the recent triumph, remarked, “We perceive this upsurge as a significant validation of our approach to constructing a blockchain predicated on insights from real users and developers, thereby delivering value to the stakeholders fueling network growth.”
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