Share this article
Blockchain Project Raises $61 Million from A16Z, Polychain Capital
Swiss blockchain project DFINITY Stiftung has raised $61 million from venture capital firm Andreessen Horowitz and token hedge fund Polychain Capital.
By Stan Higgins
Updated Sep 13, 2021, 7:32 a.m. Published Feb 7, 2018, 3:30 p.m.
A blockchain project based in Switzerland has raised $61 million from a group of investors that includes venture capital giant Andreessen Horowitz and token hedge fund Polychain Capital.
Announcing the news this morning, DFINITY Stiftung said the funding would go toward development of its blockchain protocol, aimed to support a public decentralized cloud computing platform. According to Reuters, $21 million of the total will be dedicated to development, with the rest devoted to a venture fund aimed at supporting developers and teams working on applications of the protocol.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Though the DFINITY Foundation is well capitalized, our focus with this financing was to bring in key partners who can provide real strategic value and help distinguish us from the noise in the market," Dominic Williams, DFINITY's president and chief scientist, said in a statement.
Andreessen Horowitz (A16Z) has invested in a number of blockchain companies and projects in the space in recent years, having notably bought a stake in exchange startup Coinbase back in 2013. Recent investments include seed funds for DydX (through general partner Chris Dixon), Basecoin, and OpenBazaar, among others.
A16Z also invested in Polychain itself, with the company and fellow VC firm Union Square Ventures buying a $10 million stake in 2016 along with a group of undisclosed investors.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase and OB1.
Coins stack image via Shutterstock
G
M
T
Detect languageAfrikaansAlbanianArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanLaoLatinLatvianLithuanianMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPersianPolishPortuguesePunjabiRomanianRussianSerbianSesothoSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshYiddishYorubaZuluAfrikaansAlbanianArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanLaoLatinLatvianLithuanianMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPersianPolishPortuguesePunjabiRomanianRussianSerbianSesothoSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshYiddishYorubaZulu
Text-to-speech function is limited to 200 characters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
Top Stories
