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Author: Admin | 2025-04-27
Sommelier) as project advisors. As well, the founder of restaking protocol EigenLayer, Sreeram Kannan was an early contributor to the development of Babylon prior to focusing solely on EigenLayer. In December of 2023, Babylon raised an additional 18 million US during a Series A funding round supported by numerous crypto-focused venture capital firms including Polychain Capital and Hack VC. (Image Credit: Babylon funding announcement via Babylon Twitter post) Initial Babylon Chain Funding Rounds During January 2022, Babylon raised an undisclosed amount in its first seed round from notable VC crypto investors including IDG Capital, Frontiers Capital, Exponential Ventures, DHVC, Continue Capital, Breyer Labs, and Alumni Ventures. Just over a year later, in March 2023, Babylon raised an additional 8.8 million in a seed funding round led by Breyer Capital and IDG Capital, with participation from numerous additional VC firms. On December 7th, 2023, Babylon finalized a capital raise for an additional 18 million via a Series A funding round. The round was led by Polychain Capital and Hack VC, with participation from Polygon Ventures, OKX Ventures, Finality, Breyer Capital, Castle Island Ventures, Symbolic Capital, and others; along with Angels Evan Cheng (the founder of Mysten Labs and Sui) and Yaoqi Jia (the founder of AltLayer Network), among others. In February of this year, the world’s largest cryptocurrency exchange, Binance, announced they had allocated an undisclosed sum to support Babylon chain’s continued development moving forward. (Image Credit: Binance Labs Invests in Babylon to Support the Advancement of Bitcoin Staking via Binance Blog) Babylon’s Binance Funding Round On February 27th, 2024, two months after the culmination of Babylon’s Series A round, it was announced that industry titan Binance had invested an undisclosed amount in the project. This capital allocation will be used to support the development of Babylon chain moving forward as a means to broaden the Babylon ecosystem and its vision to extend shared security and staking via the Bitcoin network. To familiarize yourself with the Babylon chain ecosystem, consider reading our ecosystem deep dive article. Upon the partnership and funding announcement release, the co-founder of Binance and Head of Binance
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