DoraHacks Raises $20M Led by FTX Ventures and Liberty City Ventures to Expand Global Web 3.0 Startup Platform


May 18, 2022 – Singapore, Singapore


dora nucleus, announced a $20 million Series B1 investment led by FTX Ventures and Liberty City Ventures, a global hacker movement and one of the most active Web 3.0 developer incentive platforms. Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital and Amber Group joined the round.

According to the company, the funding will accelerate the launch of several cutting-edge initiatives, including the Dora Grant DAO, a decentralized grant community powered by advanced governance technologies, and the Dora Infinite Fund, which provides permanent venture funding for disruptive ideas in frontier technologies. .

DoraHacks announced an $8 million strategic round led by Binance Labs last year. Following a $20 million increase in Dora Factory, DoraHacks’ DAO-as-a-service incubation, this additional funding raises the total amount invested in Dora’s core infrastructure over the past 18 months to nearly $50 million.

DoraHacks is best known for curating some of the world’s most brilliant Web 3.0 startups through hackathons and grant programs. A team of over 2,000 startups and developers has raised $25 million in grants on the DoraHacks platform.

More than 40 Web 3.0 ecosystems such as Solana, Polygon, and Avalanche have adopted DoraHacks as a key partner in their hackathons and community grant programs to access their global developer community.

DoraHacks has led significant research efforts in funding technology and decentralized governance infrastructure. After introducing secondary voting and decentralized subsidies to the multi-chain community, DoraHacks developed and implemented MACI (Zero-Knowledge, Collusion Prevention Voting) at ETHDenver 2022 and OpenSea Hackathons.

Eric Zhang, founder of DoraHacks, said:

“DoraHacks is committed to providing the best infrastructure to the global open source community. Our mission is to create a permanent hacker movement. With the addition of new strategic partners, we are better able to contribute to Frontier Tech’s startup community.”

Adam Jin, Partner at FTX Ventures, said:

“Strengthening multi-chain innovation has always been the mission of FTX. We believe DoraHacks will continue to play an important role in Web 3.0, and FTX will work closely with the Dora team to support startup founders.”

DoraHacks launched the Dora Grant DAO earlier this year. Having raised $5 million from more than 30 partners, the company plans to subsidize more pre-investment phase projects after the hackathon. The company also plans to establish Dora Infinite Fund, a win-win venture, through the NFT decline in 2022.

Emil Woods, partner at Liberty City Ventures and co-founder of two blockchain unicorns, Paxos and Lukka, said:

“DoraHacks is at the heart of advancing infrastructure development for Web 3.0. At Liberty City Ventures, the focus has always been on a group that builds on the promise of a blockchain protocol and Web 3.0 for real business and traditional industries. We expect to see increased engagement with portfolio companies as the ecosystem grows.”

Since late 2020, DoraHacks has invested and incubated 20 projects including DAO-as-a-service Dora Factory, ZK infrastructure Zecrey, MOBA monetization Thetan Arena and Web 3.0 tools infrastructure ETHSign. DoraHacks is also a co-host of the Binance Labs incubation program.

Steve Ngok, Partner and Business Director at DoraHacks said:

“We are excited to launch Dora Infinite Ventures. We will be funding more frontier tech startups in Web 3.0, quantum and space.”

About DoraHacks

DoraHacks is a global hacker movement and the world’s most active multi-chain Web 3.0 developer incentive platform. More than 2,000 projects in the DoraHacks community have won over $21.5 million in grants and hackathon prizes. DoraHacks.io has approximately 250,000 active users worldwide.

The platform offers hackathons, bounties, secondary funding, privacy voting and other community governance/funding toolkits. Additionally, more than 40 major Web 3.0 ecosystems are currently using the Dora infrastructure to fund the open source community.

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Steve Ngok, Partner and Business Director at DoraHacks

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