Berachain Raises $100 Million Led by Brevan Howard Digital, Expands Presence Globally

Berachain, a layer-1 blockchain leveraging Cosmos technology, has successfully closed a $100 million Series B funding round led by investment management platform Brevan Howard Digital and crypto-native venture capital firm Framework Ventures. This substantial backing underscores the growing interest in layer-1 solutions and the potential of Berachain’s innovative approach to blockchain technology. Notable participants in the funding round include Polychain Capital, Samsung Next, Hack VC, Hashkey Capital, alongside angel investors Sandeep Nailwal, co-founder of Polygon, and Yat Siu, Chairman of Animoca Brands.

The journey of Berachain traces back to its origins as an NFT project named Bit Bears, initially conceived as a lighthearted endeavor that blossomed into a thriving ecosystem with a dedicated community. The recent launch of the Berachain testnet demonstrated the platform’s viability, attracting over 300,000 users and processing an impressive 1 million transactions within the first 48 hours.

The funding round, structured through a Simple Agreement for Future Tokens (SAFT) agreement, arrives on the heels of Monad Labs’ announcement of a $225 million raise for its own layer-1 chain. With this injection of capital, Berachain aims to fuel economic growth initiatives, bolster engineering resources, and broaden its global footprint across key regions such as Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.

Berachain stands out as an EVM-compatible layer-1 blockchain developed using the Cosmos SDK. The platform introduces the proof-of-liquidity consensus mechanism, innovatively addressing the limitations of traditional proof-of-stake models. Participants in the Berachain ecosystem can earn Bera Governance Tokens (BGT) by providing liquidity to pools using the network’s native BERA tokens. This novel incentive structure aims to enhance network security, decentralize inflation, and align the interests of all ecosystem participants for sustainable growth and adoption.

The successful funding round underscores investor confidence in Berachain’s vision and technology, positioning the platform for further innovation and expansion in the rapidly evolving blockchain landscape.

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