Berachain Secures $100M in Series B Funding Led by Samsung, VC Heavyweights

Berachain, a DeFi-oriented layer-1 blockchain, has secured $100 million in Series B funding, led by Brevan Howard Digital and Framework Ventures. Key investors include Samsung Next, HashKey Capital, Animoca Ventures, and Nomad Capital. Berachain offers partial Ethereum compatibility, enabling seamless application and asset migration. The blockchain utilizes three distinct assets: BERA for transaction fees, BGT as its governance token, and HONEY as its collateralized stablecoin.

Berachain Secures $100 Million in Series B Funding Led by Tech Giant Samsung and Venture Capital Heavyweights

New York, NY - August 22, 2023 - Berachain (BERA), a decentralized finance (DeFi)-centric layer-1 blockchain, has announced the successful completion of a $100 million Series B funding round, solidifying its position as a formidable player in the burgeoning blockchain ecosystem. This substantial investment, spearheaded by Brevan Howard Digital and Framework Ventures, underscores the industry's unwavering confidence in Berachain's innovative approach to blockchain development.

Berachain's Series B funding round boasts an impressive roster of investors, including tech behemoth Samsung Next, renowned venture capital firms HashKey Capital and Animoca Ventures, and esteemed investment management firm Nomad Capital. This diverse group of investors reflects Berachain's broad appeal across the technology, finance, and blockchain industries.

Smokey The Bera, Berachain's co-founder, expressed the company's elation and gratitude for the overwhelming support it has received. "We are profoundly honored by this major validation of our approach to blockchain architecture," said Mr. Bera. "Our unwavering focus on incorporating feedback from both users and developers has been instrumental in our mission to deliver exceptional value to those actively driving the growth and adoption of our network."

Berachain's blockchain platform is engineered to offer a unique blend of interoperability with Ethereum (ETH) smart contracts and tools while simultaneously introducing novel features tailored to the needs of the DeFi sector. This strategic design approach enables Berachain to seamlessly integrate with existing Ethereum-based applications and assets while providing developers with enhanced functionality and performance.

"Berachain's EVM-compatible architecture facilitates the frictionless porting of applications and assets, empowering developers to leverage familiar tooling and concepts," explained a Berachain spokesperson. "However, it is important to note that, unlike other EVM-compatible chains, Berachain is purpose-built on top of the Cosmos-SDK, offering a distinct set of benefits that optimize for proof-of-liquidity and common DeFi use cases such as decentralized exchanges and oracles."

To ensure a robust and versatile blockchain ecosystem, Berachain has meticulously designed three distinct assets: the BERA token, the BGT token, and HONEY. BERA serves as the primary transaction token, facilitating value transfer across the blockchain. BGT acts as the governance token, empowering token holders to participate in shaping Berachain's future through voting and decision-making processes. HONEY, on the other hand, functions as a collateralized stablecoin within the Berachain protocol, providing stability and liquidity to the ecosystem.

The successful conclusion of Berachain's Series B funding round signifies a pivotal milestone in the company's journey towards revolutionizing the DeFi landscape. With the support of its esteemed investors, Berachain is well-positioned to accelerate its development roadmap, expand its ecosystem, and drive wider adoption of its blockchain platform.

Berachain's unwavering commitment to innovation, user-centric design, and strategic partnerships has resonated with investors and the broader blockchain community alike. The company's vision of a more inclusive, robust, and accessible DeFi ecosystem is poised to transform the financial landscape and empower a new generation of blockchain innovators.