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Web3 Hackathon Incubator DoraHacks snags $20M from FTX, Liberty City
FTX Ventures and Liberty City Ventures led the round, betting on DoraHacks' ability to facilitate funding for Web3 startups Total funding to date for Dora has reached nearly $50 million since its inception in late 2020 Crypto Web3 developer incentive platform DoraHacks has raised tens of millions of dollars in new funding from some of the largest investment arms in the industry. According to a press release on Wednesday, the platform has raised $20 million in a Series B1 funding round to accelerate its offering, including its decentralized autonomous organization Dora Grant DAO, which was founded earlier this year. The investment, led by FTX…
Web3 Hackathon Incubator DoraHacks snags $20M from FTX, Liberty City
- FTX Ventures und Liberty City Ventures führten die Runde an und setzten auf die Fähigkeit von DoraHacks, die Finanzierung von Web3-Startups zu erleichtern
- Die bisherige Gesamtfinanzierung für Dora hat seit seiner Gründung Ende 2020 fast 50 Millionen US-Dollar erreicht
Crypto Web3 developer incentive platform DoraHacks has raised tens of millions of dollars in new funding from some of the industry's largest investment arms.
According to a press release on Wednesday, the platform has raised $20 million in a Series B1 funding round to accelerate its offering, including its decentralized autonomous organization Dora Grant DAO, which was founded earlier this year.
The investment, led by FTX Ventures and Liberty City Ventures, will also go into Dora's Infinite Fund, which aims to put money into "disruptive ideas" in the fintech space. The fund is expected to launch via a non-fungible token (NFT) later in the year, Dora said.
Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital and Amber Group also participated in the round.
The funding follows an $8 million strategic round led by Binance Labs last year. The platform also received an additional $20 million for its DAO-as-a-Service incubator. Total funding to date for the emerging ecosystem has reached nearly $50 million, according to the release.
DoraHacks' platform supports and curates Web3 startups through hackathons - an event for programmers, designers and others to collaborate on projects. The platform said it has raised $25 million in grants for more than 2,000 startups since its inception, according to the release.
More than 40 Web3 ecosystems, including the likes of Solana, Polygon and Avalanche, have adopted DoraHacks as a “core partner” in hackathons and community grant programs, providing access to the global developer community, Dora said.
“DoraHacks is key to advancing the development of the infrastructure for Web3,” said Emil Woods, partner at Liberty City Ventures. “We expect increased engagement with our portfolio companies as the ecosystem grows.”
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The post “Web3 Hackathon Incubator DoraHacks Nabs $20M from FTX, Liberty City” is not financial advice.