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Alchemy Raises $15M in Series A

December 18, 2019
Sharon Moran


Alchemy Raises $15M in Series A

Dubbed the “Microsoft of Cryptocurrency” in a TechCrunch article published yesterday, Alchemy, recently raised $15 million in a new Series A round funding led by Pantera Capital. 

The following was included in a recent announcement on their website:

“Alchemy, the San Francisco-based blockchain company, today announced the debut of its infrastructure platform that enables enterprises to easily build real-world applications on top of blockchain technologies.”

The announcement also highlighted a key belief shared by both of Alchemy’s founders: that widespread blockchain adoption depends on developer infrastructure.

Also, from the announcement:

“Alchemy’s platform provides developers with a revolutionary new blockchain infrastructure that is orders of magnitude more reliable, scalable, and performant than existing alternatives, as well as powerful blockchain-specific developer tools. By leveraging this platform, customers are able to greatly accelerate their product development and integrate with blockchain technologies while also drastically reducing costs.”

In a recent tweet, Alchemy expressed the following, “Excited to share what we’ve been quietly building! Raised $15MM, currently power 1 million users a week in 200+ countries, excited to help developers build great blockchain products!”

CryptoKitties, a popular trading collectibles game and recognized as the #1 dApp in the world, is built on the Alchemy platform. CryptoKitties made headlines back in 2017 during the height of the cryptocurrency market.

The list of institutional investors for Alchemy includes Pantera Capital, Stanford University, Coinbase, Mayfield, SignalFire, Samsung, StartX, Kenetic, and Dreamers. In addition, individual investors include Google chairman, John Hennessy, Yahoo Founder Jerry Yang, and also LinkedIn founder, Reid Hoffman.

Alchemy was founded in 2017 by Stanford graduates Nikil Viswanathan and Joe Lau and offers solutions for exchanges, financial institutions, and decentralized finance. The platform has over one million users. Besides Dapper Labs, the creator of CryptoKitties, other blockchain companies that utilize Alchemy include Augur, 0x, Trust Wallet, FUNFAIR, Kyber, and Binance.