The Samsung, Coinbase and Genies-backed blockchain development platform increased its valuation to $3.5bn in the series C round.

Alchemy, a US-based blockchain development platform backed by electronics manufacturer Samsung, cryptocurrency exchange Coinbase and avatar development technology provider Genies, raised $250m in series C funding yesterday.

Venture Capital firm Andreessen Horowitz (a16z) led the round and was joined by Lightspeed Venture Partners, Redpoint Ventures, Coatue Management, DFJ, Addition and Pantera Capital in the round. It valued the company at $3.5bn.

Founded in 2017, Alchemy provides development tools and infrastructure to create blockchain applications across a number of functions such…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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