XMTP developer Ephemera completes $20 million Series B financing, led by a16z crypto and others

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According to Foresight News, citing The Block, Ephemera, the core developer of decentralized messaging protocol XMTP, has completed a $20 million Series B funding round. Union Square Ventures, a16z crypto, and Lightspeed Faction led the investment, with participation from Coinbase Ventures, Offline Ventures, Sound Ventures (founded by Ashton Kutcher and Guy Oseary), and Distributed Global. The equity value of this funding round is $300 million, with a network valuation of $750 million, and Fred Wilson from USV has joined its board of directors. XMTP is being relaunched in Coinbase's new Base application, transitioning from an optional tool to native infrastructure.

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