DoraHacks Raises USD 20M Led by FTX Ventures and Liberty City Ventures To Scale Its Global Web3 Startup Platform

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Singapore, Singapore, 18th May, 2022, Chainwire

DoraHacks, the global hacker movement and one of the most active Web3 developer incentive platforms, announced a USD 20 million Series B1 investment led by FTX Ventures and Liberty City Ventures. Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital, and Amber Group joined the round. 

According to the company, the funding will accelerate the launch of multiple cutting-edge initiatives, including Dora Grant DAO, a decentralized grant community powered by advanced governance technologies, and Dora Infinite Fund, a permanent venture funding disruptive ideas in frontier tech. 

DoraHacks announced a USD 8 million strategic round last year, led by Binance Labs. Followed by the USD 20 million raise of Dora Factory, DoraHacks’ DAO-as-a-Service incubation, this additional funding brings the total amount invested in Dora core infrastructures over the past 18 months to nearly USD 50 million. 

DoraHacks is most famous for curating many of the world’s brightest Web3 startups via hackathons and grant programs. Over 2000 startups and developer teams have raised USD 25 million worth of grants from the DoraHacks platform.

40+ Web3 ecosystems like Solana, Polygon, and Avalanche have adopted DoraHacks as a core partner in hackathons and community grant programs to access the global developer community.

DoraHacks has been driving critical research efforts in funding technology and decentralized governance infrastructures. After introducing quadratic voting and decentralized grants to multi-chain communities, DoraHacks has developed and implemented MACI (zero-knowledge, collusion-resistant voting)