Alchemy, a blockchain developer platform, announced on 28 April 2021 that it has raised USD 80 million in a Series B round fund. In the previous funding round, Alchemy raised USD 15.5 Million, which makes their total fundraised to USD 95 Million since they had been launched in 2017.
Here comes the interesting thing about this fundraising, the company that reports itself as a backend blockchain company goes from a public launch to a USD 500 million valuation in just nine months.
Alchemy stated that they made a transaction of over USD 30 billion for more than 10 million clients worldwide. They also said that they are empowering the majority of industries of NFT.
The investors for this round are DGJ Growth, actor Jared Leto, the Glazer Family, the Chainsmokers. All these investors have joined the queue with existing investors like former CEO and Co-founder of Yahoo Jerry Yang, Samsung, Stanford University, Coinbase, Pantera Capital, Charles Schwab, LinkedIn co-founder Reid Hoffman, John L. Hennessy, and others.
About Company:
Alchemy helps businesses to create a DeFi or decentralized finance, as opposed to having a central body to control every operation. This is possible by having Etherum blockchain, it allows smart contracts, a computer program to function on an allocated network.
Like the Flow, another blockchain, who powers the best non – fungible token of the NBA is increasing traction. The CEO of Alchemy said that it is planning to expand its tool to flow.
Words From Investors:
The crypto-economy is innovating faster than any technological movement that came before it, and Alchemy has been a key driver of that,” said Coinbase President and COO Emilie Choi. “Alchemy enables developers to build the rich ecosystem of applications necessary for mainstream blockchain adoption.” – she added.
“The Amazon Web Services (AWS) of the blockchain industry” that is “enabling the vision of a decentralized web.”- said Paul Veradittaki, Panthera Capitals
“While in Web 2.0, Microsoft, Apple and AWS are three of the most valuable companies in the world because they are the developer platform powering the computer and internet industries, Alchemy is primed to do the same for the blockchain,” he said.
Words from the founders:
“We realized that in order for space to thrive and build to its full potential, we needed to build a developer platform layer for blockchain,” “We are going to use the funds to support new chains with our developer platform,” We also expect to 5x the team this year.” – Vishwanathan, CEO and Founder, Alchemy.
“Every time you open DoorDash, you’re using Amazon’s infrastructure,” Lau said. “Every time you interact with an NFT, you’re using Alchemy. It’s being powered by Alchemy underneath the hood.”,”we just went from 14 employees to 22 this time.” – he added.
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