As individuals, we must find our own way to keep up with the changing trends. It’s hugely important for us because this is the only organic way in which we can pursue sustainable development. Now, while the stakes in here are undeniably high, carrying out a process of such nature is beyond difficult. You see, humans cannot function without making mistakes, and one might argue that is pretty much how we become better, but these mistakes can also lead to missed opportunities. Hence, in a bid to assist ourselves through the said journey, we have developed various different tools, which are all laser focused on delivering a unique value. Nevertheless, if we stop and assess every tool the world has developed so far, we’ll realize that none of them actually come close to matching what technology has done since arriving. Technology would grow into a full-fledged phenomenon using some extremely innovative solutions across the board. The creation’s diverse nature partnered with unprecedented efficiency will, in fact, make it a mainstay in literally every critical sector out there, but the success won’t stop it from continuing on a never-seen-before trajectory. As a result, technology runs the whole show today, and a big part of this modern landscape is the controversial blockchain concept. Despite hitting some big snags along the way, blockchain has scaled up rather aggressively over the recent past. A testament for its burgeoning importance was on full display during Alchemy’s recent funding.
Alchemy, a blockchain infrastructure startup, has officially raised $200 million in a recently-concluded Series C1 equity round. Led by Silver Lake and Lightspeed Venture Partners, the round saw further participation from Andreessen Horowitz (a16z), Coatue Management, DFJ, Pantera, and Lee Fixel’s Addition. Notably enough, the new funding takes Alchemy’s valuation to a whopping $10.2 billion, which is a big achievement by all means considering the company was valued around $3.5 billion only in October 2021. Talking of Alchemy’s goals, the company wants to build a reality where developers trying to create a product on blockchain or blockchain applications have a simplified structure in place. By reducing complexity and costs, Alchemy is striving to make blockchain into something more accessible than it has ever been before. To give you a gist of how well the company is doing that, NFT marketplaces constructed using Alchemy’s infrastructure have delivered royalties worth over $1.5 billion in just last 12 months.
Since kicking things off, the startup has provided its services to a fair few giants, including OpenSea, Adobe, Dapper Labs and Crypto Punks, and many more can certainly be expected to join the pack soon..
“What we’ve seen is Alchemy really become the de facto platform for developers to build on web3. We’re super excited because we believe this year; the acceleration is turning web3 from a fringe technology used by hobbyists to everyone using products powered by web3 even if they don’t realize it,” said Nikil Vishwanathan, Co-founder and CEO of Alchemy.
As far as investing the new funding is concerned, Alchemy plans on assigning a sizeable chunk to bolstering its workforce. The target is to achieve a headcount of 200 by the year end, as the company gears up to support its overwhelming growth.