Alchemy Hits $10B Valuation After $200M Funding Round

Blockchain startup Alchemy is now valued at $10.2 billion after a $200 million fundraising round led by Lightspeed and Silver Lake and earlier investors such as Andreessen Horowitz, Coatue, and Pantera. What’s interesting about the raise is the way Alchemy has managed to grow in valuation in a relatively short period of time. For instance, in April of 2021, the blockchain start-up was valued at $505 million following an $80 million Series B investment. Six months later in October 2021, the firm hit $3.5 billion after a $250 million Series C round. This signifies that the startup has nearly managed to triple its valuation since October and by almost 20 times since last April. “Everyone’s looking for a way to get involved in the space, and what they realized was Alchemy is the backbone for all of these things. We still think this is the first inning of Web3,” Alchemy co-founder and chief technology officer Joe Lau told CNBC in an interview. With the fresh round of fundraising, the company said that they will be using the funds to expand the team and doubling down, and investing in the Web3 ecosystem. Alchemy is a crypto infrastructure company that powers a wide range of DeFi applications and NFT platforms such as OpenSea, SuperRare, Rarible, and MakersPlace.The post Alchemy Hits $10B Valuation After $200M Funding Round appeared first on Cryptoknowmics-Crypto News and Media Platform.