Berachain said it has raised $100 million in its Series B round, higher than the previously reported $69 million.
Layer-1 Berachain raised the value of its Series B Capital round to 100 million USD
Blockchain Layer-1 Berachain has successfully raised $100 million in a Series B Capital round co-led by Brevan Howard Digital and Framework Ventures , with participation from Polychain Capital, Hack VC, Tribe Capital , and several others.
This is higher than the $69 million valuation of $1.5 billion reported by Bloomberg last month. Berachain declined to disclose its latest valuation, and plans to use the Capital to expand operations in Hong Kong, Singapore, Southeast Asia, Latin America and Africa.
We're thrilled to announce our $100M Series B round, co-led by @BHDigitalAssets and @hiFramework pic.twitter.com/yyDKmpBN7u
— Berachain 🐻⛓⚛️ (@berachain) April 12, 2024
Berachain is a Layer 1 blockchain developed based on the Cosmos SDK that is highly compatible with the Ethereum Virtual Machine (EVM) and operates on a novel Proof of Liquidity (POL) consensus mechanism to neutralize the Staking and supply dynamics. provide liquidation on the network.
Berachain has 3 Token, including BERA (fee Token ), BGT ( Staking and governance reward Token ) and HONEY (stablecoin). After providing liquidation to projects on Berachain, users will receive at BGT, a non-tradable Token . Users can then burn BGT to receive BERA, or delegate BGT to network validators to receive HONEY.
According to the announcement, the platform currently has a test version that has processed 100 million transactions. Berachain in January 2024 deployed the Artio testnet , opening it up for the community to freely experience after completing a closed testnet round for DeFi projects 1 month earlier.
This is Berachain's second Capital call. The first time taking place in April 2023, this layer-1 raised 42 million USD at a valuation of 420 million USD - marking a spectacular breakthrough for a project that started as an Non-Fungible Token platform. . Berachain's total Capital raised is 142 million USD, in the top 3 blockchain projects Capital the most money in 2024, as well as in 2023 - only behind Wormhole and Layer-1 Monad with 225 million USD.
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