New decacorn alert! Alchemy just closed a $200M funding round, and with it, bringing its valuation to $10.2B, thus achieving the coveted decacorn status.
Web3 development platform Alchemy announced a fresh round of $200 million funding, bringing up the company’s valuation to $10.2 billion, just above the decacorn threshold.
The latest funding round was led by venture capital firm Lightspeed along with Silver Lake, an American global private equity firm. Alchemy’s funding also saw participation from previous major investors as well.following a $250 million Series C fundraising round led by Andreessen Horowitz. Since October, Alchemy reported a three-fold growth in the number of Web3 initiatives being built on their platform.
Another reason for Alchemy’s explosive growth is the increase in the annualized on-chain transaction value. It currently stands at $105 billion compared to a modest $45 billion back before the Horowitz-led funding. Alchemy co-founder and CEO Nikil Viswanathan added: “In 2022, we’ll be doubling down on our commitment to meeting developer needs in more places, making it easier than ever to unlock the potential of Web3.”Some of the initiatives in this regard include the launch of Web3 University — an open educational resource for learning Web3, Alchemy Ventures and a nonfungible token API for website developers.
As Cointelegraph reported, RSS3 chalked out intent to release an RSS3 source file for aggregating cyber activities. The data can then be used for building Web3-focused social media, content networks, games and other data-driven applications.
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