5 months ago
29 ARTICLE AD
Berachain's testnet hits 100 million transactions, signaling strong growth.
Layer-1 blockchain Berachain has successfully secured $100 million in a Series B funding round co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures, as reported by Bloomberg. Polychain Capital, Hack VC, and Tribe Capital also participated in the funding round, which is a SAFT, a simple agreement for future tokens, and had an amount approximately 45% larger than initial reports predicted.
“We see this raise as a major validation of our approach to building a blockchain that’s built on feedback from real users and developers, and driving value to those groups who are actually contributing to the network’s growth,” Berachain co-founder Smokey The Bera said in the funding announcement shared with Bloomberg.
The company has outlined plans to utilize the capital to broaden its reach in strategic regions including Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. Berachain’s testnet has already processed over 100 million transactions. The platform aims to offer compatibility with Ethereum-based applications and positions itself as a more community-centric blockchain alternative.
The significant investment comes as crypto startups are once again in venture capital funds’ sights, with the total amount invested in this sector growing over 32% in the first quarter. Moreover, March had the largest monthly fundraising amount since October 2022, marked by over $1 billion directed to crypto startups.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
