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Berachain - Series A
Overview
Funding Date
April 20, 2023
Financing amount
$42M
Valuation
$420.69M
Catagory
About Berachain - Series A
Berachain, a layer 1 blockchain focused on decentralized finance (DeFi), disclosed Thursday (4/20) its $42 million Series A at a valuation of $420.69 million. The fundraise, finalized in December, was led by Polychain Capital and included investors Hack VC, dao5, Tribe Capital, Shima Capital, CitizenX and Robot Ventures, as well as several undisclosed centralized crypto exchanges.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2016 | 161 | info@polychain.capital | ||
| Fund | United States of America | 2017 | 75 | ed@hack-vc.com | ||
| Fund | United States of America | 2022 | 37 | -- | ||
| Fund | United States of America | 2018 | 49 | hello@tribecap.co | ||
| Fund | United States of America | -- | 180 | -- | ||
| Fund | United States of America | 2021 | 15 | -- | ||
| Fund | United States of America | 2019 | 110 | sayhello@robvc.com |
Founders & Team
Smokey the Bera
Homme Bera
Company Profile / Project Introduction
Berachain is an EVM-compatible layer one blockchain, built using the Cosmos SDK, and secured by the novel Proof-of-Liquidity Consensus Protocol. The project aims to allow users to stake tokens while providing liquidity to DeFi protocols in parallel.
Berachain has a tri-token system of bera (the native gas token), honey (a native stablecoin) and BGT (the "non-transferrable" Bera Governance Token). Users who stake bera or "other permissioned tokens" will earn BGT over time, allowing them to "capture honey generated by the underlying chain architecture as a reward for their participation in governance" .
Berachain is the pseudonymous co-founders' second project, after the NFT project Bong Bears, a collection of "100 absolutely zooted NFT bears getting baked."