Alchemy, a blockchain infrastructure provider, has raised $250 million in Series C funding led by Andreessen Horowitz (a16z). The startup also attracted funding from other investors, including Coatue, Addition, DFJ, and Pantera. According to an announcement, the latest fundraising brings the company's valuation at $3.5 billion.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The company plans to use the proceeds to continue its focus on developing a platform where users can build Web3 products globally. Ali Yahya, General Partner at Andreessen Horowitz, emphasizes that Alchemy's growth is "staggering" as it offers developers a platform for building Web3 products in a scalable and easy to use way.
"Under Nikil and Joe's leadership, Alchemy has stayed ahead of the curve and is doing as much as any company to drive mainstream adoption of Web3," Yahya added.
Founded in 2017, Alchemy helps developers to build decentralized applications. The San Francisco-based company already offers services to such space giants as OpenSea, SuperRare, Aave, SushiSwap, MyEtherWallet, and others. Currently, the project is powering over $45 billion in transactions.
The latest funding round comes just a few months after Alchemy raised $80 million in Series B round of funding round led by Coatue and Addition. Other investors like K5 Global, Jared Leto and the Glazer family also participated.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.