Berachain, the robust layer-1 blockchain powered by Cosmos technology, has successfully secured a monumental $100 million in Series B funding. Spearheaded by prominent names such as investment management titan Brevan Howard Digital and pioneering crypto venture capital firm Framework Ventures, this round signifies a resounding validation of Berachain’s vision and potential. Noteworthy backers also include industry heavyweights like Polychain Capital, Samsung Next, Hack VC, and Hashkey Capital, alongside angel investors of the caliber of Sandeep Nailwal, Polygon’s co-founder, and Yat Siu, Chairman of Animoca Brands.
From its origins as the NFT project Bit Bears, Berachain has swiftly emerged as a standout player in the blockchain sphere, propelled by its passionate community and unwavering commitment to innovation. The recent debut of the Berachain testnet witnessed an astonishing uptake, with a staggering 300,000 users and 1 million transactions processed within a mere 48 hours.
This substantial funding injection, facilitated through a Simple Agreement for Future Tokens (SAFT) arrangement, arrives hot on the heels of Monad Labs’ monumental $225 million raise for its own layer-1 chain. With this influx of capital, Berachain is primed to supercharge its economic growth endeavors, fortify its engineering capabilities, and extend its global footprint across key markets in Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.
At its core, Berachain stands as an EVM-compatible layer-1 blockchain, meticulously crafted using the Cosmos SDK. Distinguished by its innovative proof-of-liquidity consensus mechanism, which enhances upon the traditional proof-of-stake model, Berachain empowers users to accrue Bera Governance Tokens (BGT) by contributing liquidity to designated pools with the native BERA tokens. This pioneering approach not only bolsters security through heightened liquidity but also fosters decentralized inflation while fostering alignment among all ecosystem participants. Berachain is not just poised for success—it’s actively shaping the future of blockchain technology.