Web 3.0 blockchain developer Alchemy announced on Tuesday that it has raised an additional US$200 million, bringing its valuation to US$10.2 billion.
- Led by venture capital firms Lightspeed and Silver Lake, the funding is a continuation of its Series C round launched in October where it raised US$250 million at a US$3.5 billion valuation.
- Alchemy builds tools that allow companies to interact with the Ethereum, Flow and Polygon blockchains and further integrate with Web 3.0.
- With clients such as OpenSea, Axie Infinity and Dapper Labs, Alchemy said its user base has tripled and the on-chain transaction value it has powered has grown from US$45 billion to US$105 billion since October.
- Web 3.0 is a loosely defined term for the next stage of the internet in which integration with blockchain technology is anticipated to allow for better exchange of value of digital assets.