Alchemy Raises $250 Million at $3.5 Billion Valuation for Blockchain Industry

Alchemy is a blockchain and Web3 development SaaS start-up. It powers almost each blockchain transaction across blockchain vertical with financial institutions, exchanges, decentralized finance projects. Moreover, it is the technology behind NFT platforms such as MakersPlace, OpenSea, etc.

The funding round was led by new investor Andreessen Horowitz. Along with them, several other venture firms Lightspeed Venture Partners, Redpoint, Coatue, Lee Fixel’s Addition, DFJ, and Pantera Capital participated in the round. In the last half a year the Alchemy valuation increased 7 times. “We didn’t need the money, but we saw the value in bringing on great partners, such as Andreessen, which has an incredible team with deep technical expertise in the blockchain space.”, says Nikil Viswanathan.

Alchemy, headquartered in San Francisco, was founded by Joseph Lau, Nikil Viswanathan. The main start-up goal is to eliminate difficulties related to infrastructure building and allow its clients to improve their applications with the help of necessary tools. Alchemy powers more than $45 billion transaction volume as of now. Alchemy has only 37 employees, 2 offices, and remote employees around the world. The company is going to use the money raised to develop the blockchain.

Previous Post

ClickUp Raises $400 Million at $4 Billion Valuation for Business Software Industry

Next Post

ABL Space Systems Raises $200 Million at $2.4 Billion Valuation for Aerospace Industry

Related Posts