AlgoDAO raises US$3.5 million in seed round backed by leading investors
19 April 2022 — AlgoDAO, a next-generation decentralized primary market infrastructure and Web3 accelerator for Algorand, is thrilled to announce the close of its seed funding round. The investment in this round was subscribed over and amounted to US$3.5 million.
At the end of the round, AlgoDAO received seed funding from leading international investors including the Algorand Foundation, Borderless Capital, Shima Capital, Crypto Oasis and Next Chymia.
AlgoDAO is shaping up to become a community-owned and community-driven ecosystem for incubation, launching, accelerating, and collectively investing into high-quality projects building on Algorand.
The investments received will be deployed towards developing the best-in-class decentralized primary market infrastructure, ramping up marketing and community-building efforts and expanding the team.
In the words of Nathan Kaiser, Appointed Managing Director at AlgoDAO: “The various teams connected to AlgoDAO have set out to build a tokenized accelerator to empower the organic expansion of dApps, Web3 applications, and DeFi projects within the Algorand ecosystem and we are pleased to be undertaking this journey with the support of some of the leading investors in the blockchain industry.”
About AlgoDAO: AlgoDAO is a next-generation decentralized primary market infrastructure and Web3 accelerator for the Algorand ecosystem. It is on its way to be a community-owned and community-driven ecosystem for incubation, launching, accelerating, and collectively investing into high-quality projects building on Algorand. https://algodao.fi
Connect with us on our social media platforms and online community channels.
- LinkedIn: https://www.linkedin.com/company/algodao-fi
- Discord: https://discord.gg/algodao
- Telegram group: https://t.me/AlgoDAOCommunity
- Telegram announcements: https://t.me/AlgoDAOAnnouncement
- Twitter: https://twitter.com/AlgoDAO_fi
- Medium: https://medium.com/@AlgoDAO.fi
