TLDR:
- Berachain, a DeFi-focused Layer 1 blockchain platform, raises $100 million in funding round led by Brevan Howard Digital and Framework Ventures.
- Berachain uses a unique Proof-of-Liquidity consensus mechanism and has previously raised $42 million in a Series A funding round.
Full Article:
Decentralized finance (DeFi) focused Layer 1 blockchain platform Berachain has announced securing $100 million in a funding round led by Brevan Howard Digital and Framework Ventures. The funding round also saw participation from Polychain Capital, Samsung Next, and other prominent investors.
Founded by anonymous developers Smokey the Bear, Homme Bera, and Dev Bear, Berachain is known for its high-performance EVM-compatible blockchain built on Proof-of-Liquidity consensus mechanism. This innovative mechanism aligns network incentives, creating a strong synergy between validators and ecosystem projects.
In a recent surge of venture capital funding in the crypto space, successes like Berachain’s $100 million funding round showcase renewed investor confidence in the industry. Notably, statistics show a 38% rise in funds invested during the quarter and a 49% increase in the number of projects securing funding.
In addition to Berachain, other notable funding activities in the crypto space include a $30 million investment by Andreessen Horowitz in gaming startups. This injection of capital comes at a time when the crypto industry is seeing significant growth and interest from investors.
