DoraHacks Raises $20M Led by FTX Ventures and Liberty City Ventures To Scale Its Global Web3 Startup Platform

DoraHacks is a startup that was founded by Kasia Szpak and Maciej Ceglowski. The company has raised $20 million in funding to scale its global web3 platform, which allows anyone to build the next version of the internet without needing to know how it works or pay for servers needed.

Register now on Binance, add 50$ and get 100$ bonus voucher!

“FTX Ventures, a venture capital firm focused on blockchain technologies, has set up a $20 million fund to invest in startups building decentralized applications on the Ethereum network.”

DoraHacks-Raises-20M-Led-by-FTX-Ventures-and-Liberty-City

 

Singapore, Singapore, Chainwire, 18 May 2022

FTX Ventures and Liberty City Ventures led a $20 million Series B1 investment in DoraHacks, the worldwide hacker community and one of the most active Web3 developer incentive platforms. The round was joined by Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital, and Amber Group. 

The money will help the firm develop a number of cutting-edge projects, including Dora Grant DAO, a decentralized grant community driven by sophisticated governance technologies, and Dora Infinite Fund, a permanent venture that funds innovative ideas in frontier tech, according to the company. 

Binance Labs led a $8 million strategic round for DoraHacks last year. This extra financing, together with the $20 million raised by Dora Factory, DoraHacks’ DAO-as-a-Service incubator, raises the total amount invested in Dora core infrastructures over the last 18 months to approximately $50 million. 

DoraHacks is well known for hosting hackathons and funding programs that help many of the world’s most promising Web3 businesses. The DoraHacks platform has helped over 2000 companies and development teams win $25 million in awards.

DoraHacks has been chosen as a fundamental partner in hackathons and community grant programs by more than 40 Web3 ecosystems, including Solana, Polygon, and Avalanche.

DoraHacks has been at the forefront of important research on finance technologies and decentralized governance systems. DoraHacks designed and implemented MACI (zero-knowledge, collusion-resistant voting) at the ETHDenver 2022 and OpenSea hackathons after bringing quadratic voting and decentralized awards to multi-chain communities. 

Register now on Binance, add 50$ and get 100$ bonus voucher!

“DoraHacks aspires to provide the greatest infrastructure for open-source groups all around the globe.” Our goal is to create a hacker movement that will survive forever. We can better contribute to the frontier tech startup ecosystem with the addition of additional strategic partners.” DoraHacks creator Eric Zhang said.

“At FTX Ventures, our purpose has always been to empower multi-chain innovation,” said Adam Jin, Partner. “We think DoraHacks will continue to play a critical role in Web3, and FTX will work closely with the Dora team to help company founders.”

Dora Grant DAO was established by DoraHacks early this year. The organization wants to give grants to other post-hackathon, pre-investment stage initiatives after raising $5 million from 30+ partners. In addition, the business intends to launch the Dora Infinite Fund, an evergreen venture, through an NFT drop in 2022. 

“DoraHacks is critical to the advancement of Web3 infrastructure development.” The emphasis at Liberty City Ventures has always been on organizations that are working to realize the potential of the blockchain protocol and Web3 for actual companies and established industries. As the ecosystem matures, we anticipate increasing involvement with our portfolio firms.” Emil Woods, a partner at Liberty City Ventures and the co-founder of two blockchain startups, Paxos and Lukka, agreed. 

DoraHacks has invested in and incubated 20 businesses since late 2020, including Dora Factory, a DAO-as-a-Service platform, Zecrey, a ZK infrastructure platform, Thetan Arena, a MOBA play-to-earn platform, and ETHSign, a Web3 tooling infrastructure platform. DoraHacks is also a co-host of Binance Labs, a cryptocurrency incubator. 

“We’re thrilled to announce the debut of Dora Infinite Ventures. We’ll invest in additional Web3, quantum, and space tech businesses.” According to Ngok, Steve, DoraHacks’ Partner and Director of Business. 

DoraHacks Information

DoraHacks is the world’s most active multi-chain Web3 developer incentive platform and a worldwide hacker movement. Over $21.5 million in scholarships and hackathon prizes have been awarded to over 2000 DoraHacks projects. Across 250,000 people utilize DoraHacks.io around the globe. Hackathons, bounties, quadratic financing, privacy voting, and other community governance/funding toolkits are all available on the platform. Dora infrastructures are now used by approximately 40 major Web3 ecosystems to finance their open source communities.

Visit the following websites for further information: Website | Twitter | Discord  

Contacts

ftx, lightspeed” is a company that has been working with DoraHacks to help scale their global web3 startup platform. This is the first investment made by FTX Ventures and Liberty City Ventures in a blockchain-based startup. The company plans on using this funding to expand into new markets and develop new features for its users.

Related Tags

  • crypto venture fund
  • amy wu lightspeed
  • lightspeed crypto fund
  • amy wu linkedin
  • ftx $2 billion

Register now on Binance, add 50$ and get 100$ bonus voucher!

Recent Articles

Tonga accepts Bitcoin donations amid tsunami onslaught

A small island of Tonga has been hit by a tsunami, and the country is calling for donations in Bitcoin. The nation’s Prime Minister...

How to Buy Solana (SOL) in India

It is important to know how you can buy SOL in India. It’s no secret that the Indian market has only recently begun to...

How to Buy Flow (FLOW) in India

Flow is a cryptocurrency that was introduced in June 2018. It uses the Ethereum blockchain platform, but has its own built-in digital currency called...

Moonbeam Goes Live on Polkadot, Becomes its First Fully Operational Parachain

Moonbeam, the world’s first fully operational on chain scaling solution was released into the wild this week. The Polkadot-powered platform aims to provide scalability...

Stacks ecosystem becomes #1 Web3 project on Bitcoin

The Ethereum blockchain, which powers the Stacks ecosystem’s token STX, has become the most important web3 project on Bitcoin. The announcement is a sign...

Related Stories