Crypto Web3 developer incentive platform DoraHacks has raised $20M from FTX, Liberty City

Crypto Web3 DoraHacks has raised tens of millions of dollars in new funding from some of the biggest investment affiliates in the industry. Accordingly, the exact figure is $20 million in a Series B1 funding round to accelerate its services, including Dora Grant DAO – a decentralized autonomous organization launched earlier this year.

DoraHacks raised $20M to facilitate funding in Web3 startups

The investment, led by FTX Ventures and Liberty City Ventures, includes participation from Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital, and Amber Group. Reportedly, they will be heading to Dora’s Infinite Fund, which aims to pour money into breakthrough ideas in fintech. The fund is expected to go live later this year through an NFT token.

This funding follows an $8 million strategic round led by Binance Labs last year. The platform also raised an additional $20 million for its DAO-as-a-service incubator. Total funding for the budding ecosystem has reached almost $50 million per release.

“DoraHacks is key to advancing the development of the infrastructure for Web3,” Liberty City Ventures partner Emil Woods said. “We expect increased engagement with our portfolio companies as the ecosystem grows.”

The DoraHacks platform supports and manages Web3 startups through hackathons – an event for programmers, designers, and others to collaborate on projects. The platform says it has raised $25 million in funding for over 2000 startups since its inception. More than 40 Web3 ecosystems, including Solana, Polygon, and Avalanche, have accepted DoraHacks as a core partner in hackathons and crowdfunding programs, providing access to the global developer community.

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