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Sun, May 16, 2021

‘AWS For Blockchain’ Alchemy Bags R1,1 Billion In Funding At R7,2 Billion Valuation

Blockchain developer platform Alchemy announced today it has raised $80 million (R1,1 billion) from Coatue and Addition, valuing the company at ½ billion dollars (R7,2 billion). The company’s platform powers over $30 billion (R428 billion) in transactions for tens of millions of users in 99% of countries worldwide.

The blockchain company is fast becoming the blockchain world’s version of Amazon Web Services (AWS), the world’s most comprehensive and broadly adopted cloud platform, offering over 200 fully-featured services from data centres globally.

Alchemy’s developer platform powers the blockchain industry by providing developers with the tools they need to create mainstream blockchain applications.

The largest companies in the space depending on Alchemy’s industry-leading infrastructure and powerful suite of developer tools for smooth user experiences, reliability, scalability, and to accelerate their pace of development.

Just as AWS provides the platform that powers Uber, Netflix and much of the technology industry, Alchemy powers infrastructure for many large players in the blockchain industry.

“Alchemy powers many of the most exciting companies in the blockchain space,” said Kris Fredrickson, Managing Partner at Coatue. “We believe it has the potential to be transformative in accelerating the pace of innovation in the industry.”

Alchemy has also quickly become the technology behind every major NFT platform, including Makersplace, Nifty Gateway, OpenSea, SuperRare and CryptoPunks.

“We’re thrilled to partner with leading growth investors and are excited to use this additional funding to continue empowering companies and developers globally,” said Joe Lau, co-founder and CTO.

Alchemy will use the new funding to expand its developer platform to support new blockchains, fuel global expansion, and open new offices in the US and internationally.

“Blockchain will be as transformational as the internet,” said Nikil Viswanathan, co-founder and CEO. “We’ve seen tremendous growth over the past year and it’s incredibly exciting to help bring blockchain to the world.”


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