BINANCE

Binance Labs Participates in the $110 Million Series C Funding of Figment

Main takeaway:

  • Binance Labs participates in a $110 million Series C financing of Figment.

  • Figment has taken a pioneering function in supporting the Web 3 ecosystem.

  • Binance Labs is making focused investments into crypto infrastructure and repair suppliers to assist broader blockchain adoption.

Binance Labs, the enterprise capital and incubation arm of Binance, invested in Figment, a number one blockchain infrastructure and repair supplier. Figment’s funding spherical was a $110 million Series C fundraising.

Figment has taken a pioneering function in supporting the Web 3 ecosystem and focuses on offering Proof-of-Stake protocol staking and different important blockchain infrastructure and analysis. The firm lately expanded its attain into the dApp & middleware layers, offering entrepreneurs and builders a better method to construct services on PoS blockchains.

Lorien Gabel, Co-founder and CEO of Figment, mentioned: “The caliber of investors in our Series C round cements Figment’s position as one of the most trusted and well-established platforms in the Web 3 ecosystem. We’re seeing many experienced engineers jump from traditional software into this space. Many of these people have joined our team, and we have created an amazing Web 3 native organizational culture around them.”

Ken Li, Investment Director at Binance Labs, mentioned: “Binance Labs invests deeply into Web3 infrastructure groups. Across their many verticals, we’re particularly excited by Figment’s rising developer instruments & analytics infrastructure enterprise, geared toward supporting the rising Web 3 engineering group.

With this funding spherical, the Figment staff will give attention to 4 core objectives: supporting extra PoS Blockchains, growing world staking participation, scaling its middleware and dApp growth layers and increasing its inner staff.

The funding spherical was led by Thoma Bravo and consists of participation from Counterpoint Global (Morgan Stanley), ParaFi Capital, Avon Ventures (Fidelity), Franklin Templeton, Binance.US and others. 

Binance Labs, the Venture Capital and Incubation Arm of Binance

Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, offering financing to business tasks that assist develop the bigger blockchain ecosystem. Binance Labs is dedicated to supporting fast-executing groups who positively affect the crypto area.

Read the following articles for extra data on tasks that Binance Labs has participated in:

Related posts

Using Blockchain to Break the Bias

Crypto Advisor

Red Envelopes & What To Do With All That Lunar New Year Money

Crypto Advisor

Binance Updates VIP Tier Requirements, More Users Can Now Enjoy VIP Benefits

Crypto Advisor

Leave a Comment