The Good Tech Companies - Dora Factory Secures $10M In Strategic Funding

Episode Date: May 23, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/dora-factory-secures-$10m-in-strategic-funding. The raise will accelerate the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods funding tech stack. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #dora-factory, #chainwire, #press-release, #dora-factory-announcement, #crypto-funding, #decentralized-governance, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Dora Factory, the leading decentralized governance infrastructure, announced the closing of another $10 million strategic raise. Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, and nine other renowned institutional investors joined the round. The raise will accelerate the adoption and strategic expansion of Dora Factory's decentralized governance and public goods funding tech stack.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Dora Factory secures $10 million in strategic funding by Chainwire. Singapore, Singapore, May 23, 2024, Chainwire, asterisk asterisk Dora Factory, the leading decentralized governance infrastructure, announced the closing of another $10 million strategic raise. Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore's Uobsignum Blockchain Fund, Interop Ventures, Kai Wensheng's Longling Capital, and nine other renowned institutional investors joined the round. The raise will accelerate the

adoption and strategic expansion of Dora Factory's centralized governance and public goods funding tech stack. Dora Factory is a leading infrastructure focused on decentralized governance and public goods technology. Its core products include the flagship public goods staking infrastructure, which enables block-incentive-driven ecosystem funding, DoraVota, a Cosmos SDK appchain hosting DGov protocols, Anonymous Macy and General Macy, the privacy-preserving, collusion-resistant ZK voting infrastructure, and the multi-chain quadratic governance protocol stack, the on-chain mechanism that democratizes public goods funding. Last week, the Cosmos Hub community approved governance proposal No. 917 and a $1 million

grant to ease quadratic grant to run 10 rounds of quadratic funding in the next 24 months via DoraFactory's voting appchain, DoraVota. All of the funding will be distributed to public good builders and startups in the Cosmos hub and related ecosystems building a prosperous Atom Economic Zone. Earlier this year, DoraFactory announced its first strategic round led by Dow 5, a new venture capital firm founded by former Polychain General Partner Tekin Salimi, and Wampoa Digital, co-founded by Amy Lee, a former senior partner at Liand Lee, a Singapore law firm started by Lee Kim Yoo and Singapore's first Prime Minister, Lee Kuan Yew and his wife. Prior to this, Dora Factory had raised a total of $17.5 million in 2021,

with investors including Binance Labs, Hashkey, and the LAO. Greater than, building leading public goods funding and governance infrastructure is a greater than critical step for the Dora team to advance the global hacker movement and greater than drive frontier tech innovation, said Eric Zhang, architect of DoraFactory. Greater than, we are humbled to receive much support from our ecosystem partners and the greater than web3 community. In fact, decentralized governance has a deep and interesting greater than tech stack, and we are still at a very early stage. There are a lot of greater than exciting developments ahead.

The work from DoraFactory during the past three greater than years has laid a solid foundation for them. Since its founding in 2020, DoraFactory has dedicated itself to the research and development of decentralized governance infrastructure and applications. Over 2,000 startups have secured $20 million in grants on-chain with DoraFactory's infrastructure. Over 30 Web3 ecosystems, including Aptos, Celestia, Injective, Clayton, and Akash, have worked closely with DoraFactory as their core ecosystem partner and adopted DoraFactory's protocol stacks. Through public goods staking, an innovative initiative created by the DoraFactory team in 2022, they have provided long-term, block-native,

sustainable funding support to public goods builders and early-stage developer teams. Greater than, the assets under governance for on-chain communities has grown to a greater than $100 billion scale. Now is the golden era for governance greater than technology, said Eric Zhang, partner of Nomad Capital. Greater than, DoraFactory has become the industry's cornerstone public goods greater than infrastructure after four years of dedicated development and iteration. We are greater than thrilled to support the Dora team in their mission to empower developers, greater than foster

innovation in the Web3 space, and expand the adoption of new greater than technologies, including AMACI, through this investment. Greater than, DoraFactory's development of DoraVota and anonymous privacy voting greater than technology demonstrates their leadership in Web3 governance and public good greater than funding. This is a crucial piece of blockchain's value proposition, and we greater than recognize their impact with millions of votes cast and over 2,000 projects greater than receiving funding via QF. Our investment is a first step in continuing to greater than support their effort, said Jin Chao, founding partner of No Limit Holdings. Greater than, with support from new investors,

we are excited to grow the Dora factory greater than ecosystem further. Our plans include innovations in multi-chain quadratic greater than funding and public good staking, encouraging developers to expand the use greater-than cases of anonymous Macy, and building new governance apps on Dora Voda. Our greater-than goal is to deliver a suite of products that provide an exceptional experience greater-than for on-chain communities and teams working on frontier technologies, greater-than commented Steve Nock, core contributor to DoraFactory. About DoraFactory DoraFactory builds protocols and infrastructures to enable decentralized governance and efficient funding for the global hacker movement,

open-source communities, and Web3 public goods. DoraFactory's flagship public goods stacking is one of the fastest-growing multi-chain staking infrastructures, providing block-native incentives to grow the next generation of blockchains. Dora Vota is a special-purpose blockchain for decentralized governance, supporting General Macy Interface, Anonymous Macy, and Quadratic Governance Rounds. To use Dora Factory products, go to dorafactory.org. For more information, visit research. Dora Hacks. IO Contact Community Contributor Chris Lee Dora Factory Winnie Drinkwater at gmail.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you

for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.