Blackbird Labs Secures $50 Million in Series B Funding

2 mins mins

Key Points:

Blackbird Labs raised $50 million in Series B funding led by Spark Capital.
The funding will enhance Blackbird’s blockchain-based app.
Integration of blockchain into restaurant payments faces industry skepticism.

Blackbird Labs raises $50 million in Series B led by Spark Capital for its blockchain-based restaurant app, expanding their loyalty and payment systems.

Blackbird Labs has closed a $50 million Series B funding round led by Spark Capital, with participation from Coinbase Ventures and others. Funds will enhance its blockchain-based restaurant application, already operational in 600 locations such as New York City.

Funding Boosts Blockchain in 600 Restaurants

The focus on blockchain aims to revolutionize restaurant payments through Blackbird’s app, but industry skepticism exists. Blackbird’s blockchain Flynet and cryptocurrency FLY are pivotal to its approach, intending to streamline the loyalty program in more than 600 restaurants. Ben Leventhal stated the importance of creating consumer-friendly tech without forcing crypto use.

Blackbird Labs, lead by veteran entrepreneur Ben Leventhal, secured $50 million in Series B funding. Participating investors include Coinbase Ventures and Amex Ventures. The financing consists of company equity and token warrants.

Ben Leventhal, Founder and CEO, Blackbird Labs, emphasized their vision: “Our job is to build something magical from a consumer tech standpoint. Where we can use the blockchain to create that magic, we will. But we will never force crypto to the consumer.”

Blockchain’s Skepticism vs. Long-term Potential in Food Industry

Did you know? The restaurant industry has historically been slow to adopt new payment technologies, often taking years to fully integrate credit cards after their introduction.

According to CoinMarketCap, Franklin (FLY) is trading at $0.00 with a market cap of $0 and a fully diluted market cap of $312,356.29. Its 24-hour trading volume stands at $6,219.23, reflecting a 4.85% decrease. Over three months, FLY’s price has dropped by 53.75%.

franklin-daily-chart — Franklin(FLY), daily chart, screenshot on CoinMarketCap at 20:07 UTC on April 8, 2025. *Source: CoinMarketCap*

Coincu’s research team notes that Blackbird’s fundraising highlights a growing interest in blockchain applications to optimize restaurant payments. Stronger adoption incentives, including exclusive loyalty benefits, may prompt more businesses to incorporate blockchain, while regulatory adjustments may lag until broader industry acceptance materializes.