Cronos Labs unveils second $100M Web3 accelerator cohort

Starting on May 15, the selected initiatives embarked on a 12-week program following the allocation of $30,000 in seed funding.

Cronos Labs, a startup accelerator in the blockchain space, has announced the launch of its second cohort for the Cronos Accelerator Program. With a substantial $100 million investment, the program aims to provide mentorship and funding opportunities to early-stage crypto projects.

Cronos Labs carefully selected eight projects to participate in the accelerator program: Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAI. Each of these projects received upfront seed funding of $30,000 to kickstart their 12-week program.

The chosen projects cover a diverse range of areas, including Web3 game development, decentralized social networking, pet-focused video sharing, smart contract wallet integration, loyalty platforms for Web3 gaming, exchange aggregation for institutional trading, liquid marketplaces for yield-earning opportunities, and an ecosystem for the peer-to-peer economy of generative artificial intelligence.

A significant focus of this second cohort is the intersection of artificial intelligence (AI) and blockchain technology. Cronos Labs has partnered with Amazon Web Services (AWS) to offer AI-related workshops and mentorship sessions to the participating projects. Furthermore, the chosen projects will have access to AWS’ resources, including machine learning and AI services. Noteworthy partners for this cohort include CertiK, Hacken, and Covalent.

At the end of the 12-week program, the participating projects will have the opportunity to present their concepts to investment partners during a Demo Day scheduled for late July 2023. This event will enable participants to secure additional seed funding and gain support from investors such as NGC, Fundamental Labs, Spartan Group, and Delphi Digital.

Cronos, the blockchain platform by, introduced its $100 million accelerator program in June with the aim of supporting early-stage decentralized finance and Web3 projects. The program received support from notable companies including Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and DoraHacks.

Despite a challenging period for the crypto industry, there has been an increase in blockchain accelerator programs focusing on Web3 development. On May 22, The Open Network (TON), a layer-1 blockchain developed by Telegram, unveiled the “TON Accelerator Program” with a fund worth $25 million. This program aims to support projects within its ecosystem by providing investments ranging from $50,000 to $250,000 per project, along with valuable partnerships and mentorship from TON’s team.


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