XDAO Raised $2.3 Million In Seed Funding At $50 Million Valuation

The multichain DAO builder for jointly managing crypto and DeFi projects, XDAO raised successfully $2.3 million at $50 million valuation from numerous investors in the seeding fund round.

Panony, DWF Labs, Telos Foundation, and Grizzly Capital were the investors in the round, according to CEO Vlad Shavlidze’s email statement. The funds were conducted through a token sale, which closed on November 21, tailored specifically to the bear market while catering to long-term development strategies including a 12-month cliff and a 36-month linear vesting period.

The funds from XDao’s raise will be used to hire more employees and invest in the future development of the platform. In order to scale the DAO base, XDAO is currently offering users paid consulting services via XDAO Pro.

In addition, XDAO intends to use this funding to provide DAO registration services in DAO-friendly jurisdictions. The goal is to use DAOs to provide a bridge between traditional business and the Web3 sphere utilizing DAOs. Currently, XDAO were being supported by 30 blockchains.

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