May 23, 2024
On May 23, 2024, in Singapore, Dora Factory, a prominent name in decentralized governance infrastructure, announced a strategic raise of $10 million. This funding round saw participation from an impressive consortium of investors including Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital, and nine other esteemed institutional investors.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Dora Factory | 23 May, 2024 | $10M | Venture round | $28.5M | Nomad Capital | Web3 |
The injection of funds is earmarked for accelerating the adoption and strategic expansion of Dora Factory’s innovative tech stack dedicated to decentralized governance and the funding of public goods.
Dora Factory offers several key products, its flagship offering, Public Good Staking, drives ecosystem funding through block incentives. Other significant innovations include Dora Vota, a dGov protocol hosting Cosmos SDK appchain; the privacy-centric, collusion-resistant MACI voting infrastructure; and the multi-chain Quadratic Governance protocol, which democratizes funding for public goods.
Recently, the Cosmos Hub community ratified governance proposal No.917 along with a $1 million grant to AEZ Quadratic Grant for running ten rounds of Quadratic Funding over the next 24 months using Dora Factory’s Dora Vota. This funding is destined for public good builders and startups within the Cosmos Hub and associated ecosystems, contributing to the burgeoning ATOM Economic Zone.
Earlier in the year, Dora Factory celebrated a strategic funding round led by newcomers dao5 and Whampoa Digital. This round contributed to the total $17.5 million raised in 2021 from backers, including Binance Labs, HashKey, and The LAO.
With collaboration from over 30 Web3 ecosystems like Aptos and Klaytn, Dora Factory has solidified its role as a pivotal ecosystem partner. The Public Good Staking initiative launched in 2022 is a testament to its commitment to sustainable funding for public goods builders and early-stage development teams.
Dora Factory continues to lead in building protocols and infrastructures that enable efficient decentralized governance and funding across the global hacker movement and Web3 public goods.
About Dora Factory
Dora Factory develops protocols and infrastructures that facilitate decentralized governance and effective funding across global hacker movements, open-source communities, and Web3 public goods. Its primary offering, Public Good Staking, rapidly gains traction as a leading multi-chain staking infrastructure, offering block-native incentives to cultivate emerging blockchain technologies. Additionally, Dora Vota, a dedicated blockchain for decentralized governance, supports a range of functionalities, including the general MACI interface, anonymous MACI, and rounds of quadratic governance.
Website: https://dorafactory.org/
Twitter Account: @DoraFactory
Twitter Followers today: 28,900
Twitter Followers 30 days ago: 28,901
Twitter Follower change: 1
About Investor
Investor: Nomad Capital
Description: Nomad Capital is a visionary investment firm focusing on the next generation of blockchain technologies and decentralized governance solutions. By supporting initiatives like Dora Factory, Nomad Capital is at the forefront of advancing the Web3 ecosystem, fostering innovation, and driving significant technological adoption across global markets.
Location: New York, United States
Website: https://nomadcapital.io/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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