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Uncategorized

Alchemy Has Raised $200m Led By Lightspeed And Silver Lake

February 9, 2022 - Around 3 mins mins to read
alchemy raise

Alchemy announced on February 8 that it has raised $200 million, making it the latest crypto startup to achieve unicorn status.

The series C fundraising, led by venture capital firms Lightspeed Partners and Silver Lake, increased Alchemy’s value to $10.2 billion, a nearly $7 billion rise since the company announced its last campaign in October 2021.

Alchemy provides blockchain infrastructure and developer tools to a significant portion of the crypto economy. Its role is similar to web architecture provided by Microsoft and Apple, which built operating systems for personal computers, and Amazon Web Services, which now supports a major chunk of the internet’s data.

The company provides infrastructure and programming tools to non-fungible token (NFT) creators and marketplaces, including Axie Infinity, Dapper Labs, Open Sea, as well as decentralized finance (DeFi) protocols like Aave, Sushiswap, Yearn.Finance and The Graph.

“We power virtually every major NFT platform and a majority of decentralized finance,” Nikil Viswanathan, Alchemy co-founder, and CEO told Yahoo Finance.

Alchemy isn’t the only company raising significant amounts of venture funding. Polygon, an Ethereum scaling protocol, has reported that it raised $450 million by selling a large amount of $MATIC to Sequoia Capital India and numerous other key investors.

alchemy raise

According to Viswanathan, last year’s excitement around crypto is carrying over into 2022, with companies in and outside of the sector seeking to build products that incorporate things like NFTs and DeFi applications.

Two recent examples include Twitter letting users add their NFTs as profile pictures and Google’s Cloud division launching their own digital asset team. Alchemy’s client Adobe is also using their NFT programming software to enable artists and designers to share their NFTs on Behance.

The most major barrier that larger technology organizations confront when starting crypto efforts is that crypto data on a blockchain is inherently more difficult to format. The issue creates an increasing opportunity for infrastructure providers such as Alchemy.

Already crypto investors have poured more than $1.7 billion into infrastructure-related companies and projects in 2022 according to fundraising data compiled by Dove Metrics.

“We see Web3 as having a larger global impact than the internet or the personal computer but we haven’t touched our series B or C money yet. This isn’t a 3 to 9-month game. It’s a decade-long journey,” Viswanathan added.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Uncategorized

Alchemy Has Raised $200m Led By Lightspeed And Silver Lake

alchemy raise

Alchemy announced on February 8 that it has raised $200 million, making it the latest crypto startup to achieve unicorn status.

The series C fundraising, led by venture capital firms Lightspeed Partners and Silver Lake, increased Alchemy’s value to $10.2 billion, a nearly $7 billion rise since the company announced its last campaign in October 2021.

Alchemy provides blockchain infrastructure and developer tools to a significant portion of the crypto economy. Its role is similar to web architecture provided by Microsoft and Apple, which built operating systems for personal computers, and Amazon Web Services, which now supports a major chunk of the internet’s data.

The company provides infrastructure and programming tools to non-fungible token (NFT) creators and marketplaces, including Axie Infinity, Dapper Labs, Open Sea, as well as decentralized finance (DeFi) protocols like Aave, Sushiswap, Yearn.Finance and The Graph.

“We power virtually every major NFT platform and a majority of decentralized finance,” Nikil Viswanathan, Alchemy co-founder, and CEO told Yahoo Finance.

Alchemy isn’t the only company raising significant amounts of venture funding. Polygon, an Ethereum scaling protocol, has reported that it raised $450 million by selling a large amount of $MATIC to Sequoia Capital India and numerous other key investors.

alchemy raise

According to Viswanathan, last year’s excitement around crypto is carrying over into 2022, with companies in and outside of the sector seeking to build products that incorporate things like NFTs and DeFi applications.

Two recent examples include Twitter letting users add their NFTs as profile pictures and Google’s Cloud division launching their own digital asset team. Alchemy’s client Adobe is also using their NFT programming software to enable artists and designers to share their NFTs on Behance.

The most major barrier that larger technology organizations confront when starting crypto efforts is that crypto data on a blockchain is inherently more difficult to format. The issue creates an increasing opportunity for infrastructure providers such as Alchemy.

Already crypto investors have poured more than $1.7 billion into infrastructure-related companies and projects in 2022 according to fundraising data compiled by Dove Metrics.

“We see Web3 as having a larger global impact than the internet or the personal computer but we haven’t touched our series B or C money yet. This isn’t a 3 to 9-month game. It’s a decade-long journey,” Viswanathan added.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News