April 03, 2024
Burnt, the team behind the blockchain initiative XION, has secured $25 million in Series A funding. This financial milestone aims to advance XION's goal of redefining consumer-ready Web3 products. Founded by the individual known as "BurntBanksy," XION is a platform developed by Burnt, a Web3 foundry focused on smart contract development.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Burnt | April 3, 2024 | $25 M | Series A | $38.5M | Web3 |
XION seeks to empower developers to create, launch, and scale applications for mainstream adoption by addressing the complexities associated with blockchain technology. The recent funding round, held earlier this month, saw contributions from investors including Multicoin, Animoca Brands, Arrington Capital, Draper Dragon, GoldenTree Asset Management, Laser Digital, and Sfermion. This significant investment reflects the confidence these investors have in XION’s potential impact on the industry.
The success of XION's Series A funding round is a key milestone that highlights strong investor confidence in XION’s vision, business model, and market impact. The capital raised will enable XION to refine its product offerings, expand its team, and scale operations, ensuring it remains at the forefront of innovation.
As XION prepares for its Mainnet launch, anticipation within the blockchain community is high. The platform’s user-first approach promises to facilitate a new era of consumer adoption for blockchain applications. The achievement of securing Series A funding is not just a financial success but also an indicator of the transformative potential of blockchain technology.
About Burnt:
Burnt is a Web3 foundry dedicated to developing tools and platforms that simplify blockchain technology for mainstream use. XION, its primary initiative, aims to revolutionize consumer-ready Web3 products by enhancing user experience and accessibility. With a strong network of developers and industry support, Burnt is a significant player in the digital asset landscape.
Website: https://burnt.com/
X Account: https://x.com/burnt_xion
X Followers today: 551,462
X Followers 30 days ago: 440,229
X Follower change: 111,233 (+25.27%)
About Investor
Investor: Arrington Capital
Arrington Capital is one of the prominent investors in Burnt, a leading decentralized auction protocol built on the Solana blockchain. Arrington Capital, known for its strategic investments in the blockchain and cryptocurrency space, supports innovative projects that drive the decentralized finance (DeFi) ecosystem forward.
Location: United States
Website: https://www.arringtoncapital.com/
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