Biconomy
ActiveAccount abstraction SDK for Web3 developers
Biconomy is a Web3 developer platform providing account abstraction tools and gasless transaction infrastructure to simplify dApp user experiences.
Founders
Funding Rounds
Investors: Jump Capital, Borderless Capital, Consensys Ventures, Taisu Ventures, Manifold Trading, Side Door Ventures, Blockchain Founders Fund, Balaji Srinivasan (angel), Jordi Alexander / Selini Capital (angel)
Labelled "strategic" by the source. Amount not disclosed by the company or any outlet. Tracxn records it as 'Series B, 28 Mar 2024' with the amount hidden; the company itself calls it a 'strategic' round. Quote from co-founder Aniket Jindal. Also: https://laraontheblock.com/biconomy-the-advocator-for-seamless-blockchain-receives-strategic-funding/ https://www.chaincatcher.com/en/article/2118833 https://dapp.expert/news/en_biconomy-secures-strategic-investment-from-major-investors Confidence: confirmed (round 13, Decrypt (sponsored press release by Biconomy)).
Investors: CoinList public sale participants (~12,500 token holders)
Public BICO token sale on CoinList held 14 Oct 2021 (two options: 40M tokens at $0.25 and 10M at $0.15); results announced 28 Oct 2021. Token sale, not equity — 'crowdfunding' is the closest enum. CoinDesk: $20.5M raised across the July private round and this sale. Also: https://blog.coinlist.co/announcing-the-biconomy-token-sale-on-coinlist/ https://twitter.com/biconomy/status/1445850667189366791 https://www.investing.com/news/cryptocurrency-news/biconomy-raises-115m-through-coinlist-token-sale-2659475 Confidence: confirmed (round 13, CoinDesk).
Lead: Mechanism Capital
Investors: Mechanism Capital, Digital Asset Capital Management (DACM), Coinbase Ventures, Bain Capital Ventures, CoinFund, NFX, True Ventures, Proof Group, LedgerPrime, Primitive Ventures, Genblock Capital, Rarestone Capital, Huobi Innovation Labs, Woodstock Capital, Eden Block, Zee Prime Capital
Co-led by Mechanism Capital and DACM per the company post ('led by Mechanism Capital and DACM'); CoinDesk names Mechanism Capital as lead. Company called it a 'private funding round'; The Block reports it was structured as a SAFT (token pre-sale), which is why the type is left 'undisclosed' rather than Series A (Tracxn/CoinDesk imply Series A). Angels: Stani Kulechov (Aave), Hasu, Stephane Gosselin (Flashbots), Prabhakar Reddy (FalconX), Arbitrum founders. CoinDesk: total raised to date $10.5M. Also: https://www.coindesk.com/business/2021/07/28/biconomy-raises-9m-to-make-building-dapps-easier-for-developers https://www.theblock.co/post/112770/blockchain-infrastructure-provider-biconomy-raises-9-million-saft https://forkast.news/blockchain-developer-platform-biconomy-raises-9-million-led-by-mechanism-capital/ Confidence: confirmed (round 13, Biconomy (Medium)).
Lead: Eden Block
Investors: Eden Block, Binance Labs, Fenbushi Capital, Digital Asset Capital Management (DACM), Woodstock Capital, Zee Prime Capital
Nine investors in total per The Block/CoinDesk (Eden Block led; Binance Labs, Fenbushi, DACM named; Woodstock Capital and Zee Prime named as 'previous investors' in the July 2021 announcement). Round was closed in Q4 2020 and announced 11 Jan 2021 (CoinDesk July 2021: 'raised $1.5 million in a seed round back in Q4 2020'). Also: https://www.coindesk.com/markets/2021/01/11/biconomy-raises-15m-in-seed-funding-for-bid-to-simplify-blockchain-transactions https://www.theblock.co/post/90723/blockchain-biconomy-1-5-million-seed-funding-round Confidence: confirmed (round 13, Biconomy (Medium)).
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