Web3 Platform Alchemy Tops $10B Valuation in Latest Funding Round

Web3 Platform

Alchemy has reached a valuation of $10.2 billion after closing a funding round of $200 million towards strengthening the adoption of Web3.

The blockchain’s co-founder and CEO, Nikil Viswanathan, notes that the firm aims to meet developer needs, including a launch of Web3 University, Alchemy Ventures, and NFT API.  

The round was led by venture capital firms Lightspeed and Silver Lake, among other major financiers.

The protocol has since recorded a surge in Web3 projects developed on its ecosystem.

Alchemy rose to a valuation of $3.5 billion after a $250 million Series C funding round in October last year that Andreessen Horowitz led.

The platform has also seen a growth in the annualized on-chain transaction value at $105 billion compared to $45 billion before the funding round.

Source: Cointelegraph

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