Berachain, a blockchain platform, has exceeded expectations by raising an impressive $100 million in its latest Series B funding round. The round was jointly led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures, with participation from well-known investors such as Polychain Capital, Hack VC, and Tribe Capital. This achievement is a significant milestone for Berachain, as previous reports projected a lower funding of around $69 million, with a valuation of at least $1 billion.
Berachain, which is compatible with Ethereum, has already recorded significant volume since implementing a test version. It has processed over 100 million transactions, highlighting investors’ strong interest and confidence in the technological infrastructure provided by the platform.
In the cryptocurrency sector, venture capital investments have seen a 32% growth in the last quarter, reaching a total of $2.5 billion, according to Pitchbook data mentioned by Bloomberg. This indicates a growing investor confidence in blockchain startups and cryptocurrencies as a whole.
The capital raised in this funding round will be used to expand Berachain’s presence in strategic markets, including Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. This expansion plan aligns with the platform’s global ambition and its goal to strengthen its position in the blockchain sector.
Smokey The Bera, co-founder of Berachain, expressed his optimism about the recent success, stating that it validates their approach of building a blockchain based on feedback from real users and developers, and delivering value to the network’s growth contributors.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.