Alchemy attracts high-profile investors
Alchemy, a fast-growing infrastructure provider for Ethereum (ETH) and other blockchains, announced on Wednesday, 4th August that it had attracted a group of quality executives as strategic investors in its recent $80 million fundraising round.
High profile investors
The most distinguished big names on the newly updated list of investors are the former Citigroup CEO Vikram Pandit, as well as DoorDash CEO Tony Xu and Jeffrey Katzenberg, the Hollywood mogul and former chairman of Walt Disney Studios. The terms of the investment were not disclosed.
For a low-profile player
Alchemy is not too well-known in the cryptocurrency world. However, it has gradually become an essential key service provider for exchanges, developers and others, who interact with Ethereum. Meanwhile, its technology allows for more than $30 billion (~£21.6 billion) in transactions annually. The company focuses on backend programming for all major non-fungible token platforms, including Nifty Gateway, OpenSea, CryptoPunks and SuperRare. More recently, Alchemy has developed its own software set in order to service Flow blockchain and so-called layer 2 solutions, such as Polygon. The company, which called itself Amazon Web Services of the cryptocurrency market, has reportedly experienced a tenfold increase in its revenue since April, according to decrypt.co. In addition to the major NFT providers, its customers include UNICEF, global banks and the top four accounting firms.
The new strategic investor line-up also includes the CEO of cryptocurrency company Chainalysis, founder of Checkout.com and DJ Zedd.
Alchemy may be less well-known, but it is a major player in the decentralised finance sector. With a number of new strategic investors who not only provide funding, but also valuable advice, the company is set to expand and move towards capturing a larger share of the market.
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