Layer 1 blockchain developer Berachain has successfully raised $100 million in Series B funding. The round was co-led by Framework Ventures and BH Digital, the Abu Dhabi-based branch of Brevan Howard Digital (BH Digital). Berachain said it wants to use the raised capital for expansion across key markets including Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.
Berachain’s testnet has already processed over 100 million transactions, according to a press release.
Prominent names, including Polychain Capital, Hack VC, Samsung Next, Laser Digital from Nomura Group, Hashkey Capital, Nomad Capital, Hypersphere, Arrington Capital, Cypher Capital, Tribe Capital, Rubik, Dragonfly’s Bo Feng, Animoca Brands’ Yat Siu, Temasek’s Antony Lewis, Polygon’s Sandeep Nailwal, and others, joined as additional contributors to the funding.
This latest funding round follows Berachain’s successful private token round in April 2023, which raised $42 million. Polychain Capital led the round, which included participation from Hack VC, Shima Capital, Robot Ventures, and others.
Notably, BH Digital, one of the co-leads in Berachain’s Series B funding, boasts a considerable $1.7 billion in assets under management.
Investors opted for a simple agreement for future tokens (SAFT) to support Berachain, underscoring confidence in the project’s long-term prospects.
Berachain distinguishes itself as a modular Layer 1 blockchain, anchored by a unique “proof of liquidity” consensus mechanism designed to verify the liquidity available for specific assets on-chain.
