Solana’s Phantom Raises $109 Million in a Sequence B Fundraise Acquiring Unicorn Standing – Finance Bitcoin Information


On Monday, the group behind the Solana Web3 pockets platform Phantom introduced it had raised $109 million in a Sequence B fundraise. The crypto firm is now a Unicorn with a publish valuation of $1.2 billion in worth.

Solana Web3 Pockets Phantom Raises $109 Million

The Phantom pockets group has raised $109 million in a Sequence B financing spherical in accordance with the agency’s current weblog publish. Moreover, Phantom additionally launched the Solana pockets’s iOS model for Apple smartphone customers. Based on the announcement, the $109 Sequence B was led by Paradigm. Moreover, Soar Capital, Solana Ventures, Variant, and Andreessen Horowitz (a16z) participated in Phantom’s newest fundraise.

The funds will probably be devoted to onboarding extra customers and builders on to Web3 and in addition “innovating on the multi-chain pockets consumer expertise.” Furthermore, the corporate stated it plans to scale the group and particularly rent specialists in neighborhood help and product growth. The Sequence B fundraise follows the Sequence A the corporate introduced in mid-July when the Phantom group raised $9 million and a16z led that individual spherical.

Phantom famous through the announcement that in six months the pockets obtained over 2 million month-to-month lively customers. “Collectively, our customers have staked over 112.4 million SOL ($10.4 billion), swapped $1.37 billion in tokens, and made 55.2M NFT, defi, and app transactions,” Phantom’s Sequence B weblog publish particulars.

“Our first step towards this imaginative and prescient is the launch of Phantom throughout cellular platforms, beginning with the discharge of our iOS app to the general public at the moment,” the group wrote on Monday. “With an Android launch additionally coming shortly, we couldn’t be extra excited in regards to the potential for cellular to empower an entire new set of customers and use instances for Phantom.”

Out of 12,280 crypto-assets in existence, solana (SOL) has managed to take the seventh largest place when it comes to market capitalization. 12 months-to-date, SOL has gained 2,210% however during the last month, its worth has misplaced 42.5% in opposition to the U.S. greenback. Nonetheless, SOL’s $30.8 billion market valuation represents 1.68% of the complete $1.83 trillion crypto financial system. Solana has the sixth-largest TVL in defi at the moment and the second-largest quantity in NFT gross sales.

Tags on this story

A16Z, Andreessen Horowitz, Blockchain Sequence, capital, Capital increase, Finance, Fundraise, iOS app, Soar Capital, Paradigm, Phantom, Phantom pockets, Sequence B Fundraise, SOL, Solana, Solana (SOL), Solana Ventures, Variant, VCs, Web3

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Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Information in regards to the disruptive protocols rising at the moment.

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