Humanity Protocol hits unicorn status, nabs $30m
The post Humanity Protocol hits unicorn status, nabs $30m appeared on BitcoinEthereumNews.com.
More crypto startups are raising seed rounds and pre-A funding. Below, we look at some of the main beneficiaries of last week’s venture capital (VC) activities. Humanity Protocol gets $30-million boost Humanity Protocol, a decentralized identity solution, has reached unicorn status with a $1 billion valuation. This milestone came after securing $30 million in a seed round led by Kingsway Capital. Other investors included Animoca Brands, Blockchain.com, Hashed, Shima Capital, and 20 more industry leaders. According to a Medium post by Humanity Protocol, the funds will be used to expand the team and develop products ahead of the public testnet launch in the second half of 2024. 🚀Big news alert! 🚀Our founder Terence just took the spotlight in Bloomberg @business, unveiling our latest round of funding! 🌟 We’ve become crypto’s new digital identity unicorn! 🦄 Check out the full story on our $30M raise at a $1B valuation: https://t.co/soy6PqZoFB… — Humanity Protocol 🖐️ (@Humanityprot) May 15, 2024 The latest funding round comes only months after Humanity Protocol received strategic investment to build the “human layer” for web3. The money came from several VC funds and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu. Arch Labs secures $7 million New York-based Arch Labs raised $7 million in seed funding to enhance its Bitcoin-native application platform. The round was led by Multicoin Capital, with participation from OKX Ventures, Portal Ventures, Big Brain Holdings, CMS Holdings, and Tangent. The company will reportedly use the funds to support the hiring of core developers, the launch of the Arch Network mainnet in the second half of 2024, and ongoing support for its app ecosystem. Arch Labs is developing a “bridgeless” trading experience directly on the Bitcoin (BTC) blockchain. It will feature a Rust-based zkVM called the ArchVM and a decentralized verifier…
Filed under: News - @ May 19, 2024 3:10 am