- Berachain’s Series B funding round of $100 million, co-led by Framework Ventures and Brevan Howard Digital, will help the Layer 1 blockchain developer expand its operations in key regions such as Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.
- This suggests a strategic approach to global expansion and market penetration.
In a major funding milestone, Layer 1 blockchain developer Berachain has successfully closed a $100 million Series B round. The funding was co-led by Framework Ventures and the Abu Dhabi branch of Brevan Howard Digital (BH Digital), and marks a significant vote of confidence in Berachain’s innovative blockchain technology.
Additional investors in this round include prominent names such as Polychain Capital, Hack VC, Samsung Next, Laser Digital from Nomura Group, Hashkey Capital, Nomad Capital, and several others. The funds will be allocated to support Berachain’s expansion efforts across Hong Kong, Singapore, Southeast Asia, Latin America, and Africa, as reported by Bloomberg.
Berachain’s testnet has already processed over 100 million transactions, indicating strong potential for the blockchain’s future applications.
This funding round follows a private token round in April 2023, where Berachain raised $42 million, led by Polychain Capital and other investors. BH Digital, one of the Series B co-leads, manages $1.7 billion in assets under management, signaling a strong backing from major players in the finance and technology sectors.
Berachain’s Ecosystem and Technology
Berachain operates a modular Layer 1 blockchain with a “proof of liquidity” consensus mechanism, designed to verify the liquidity available for certain assets on-chain. The platform has its governance token, BGT, a gas token, BERA, and a native consensus collateralized stablecoin, HONEY.
Users can only acquire BGT by engaging with the Layer 1 ecosystem, such as providing liquidity on Berachain’s decentralized exchange BEX. Once acquired, BGT can be exchanged for HONEY, with BERA used to pay transaction fees.
Additionally, Berachain is compatible with Ethereum’s Virtual Machine (EVM), an Ethereum-specific runtime environment that ensures smooth compatibility with existing Ethereum applications and infrastructure. Built on the Cosmos SDK, a technology stack for creating public proof-of-stake blockchains, Berachain is poised to offer a unique and innovative approach to blockchain development.
This recent Series B round underlines the strong investor confidence in Berachain’s technology and its potential to shape the future of blockchain infrastructure across various regions. With plans for further expansion and a growing ecosystem, Berachain’s journey is one to watch in the rapidly evolving blockchain industry.
Strong Foundation for Future Growth
Berachain’s successful $100 million Series B funding round solidifies its position as a promising player in the blockchain industry. With strategic investments and a robust technology stack, Berachain is well-equipped to drive innovation in blockchain technology and expand its reach across key regions. The company’s focus on ecosystem development and compatibility with existing blockchain infrastructure sets a strong foundation for future growth and success.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
