Web 3.0 development platform Alchemy has breached decacorn status after a $200-million funding round, Coin Telegraph reported.
Alchemy’s latest funding round was attended by major investors who already backed its previous rounds, along with venture capital firm Lightspeed and US-based global private equity firm Silver Lake.
The platform’s growth is also attributed to the surge in its annualized on-chain transaction value which is currently pegged at $105 billion. This is more than double the $45 billion prior to funding led by the Horowitz group.
Chief Executive Nikil Viswanathan said the company will double down on its vow to meet developer needs this year, with part of the proceeds to be used for boosting Web 3.0 adoption.
Alchemy is also looking to roll a Web 3.0 University, an open educational resource, and an NFT API for website developers.
