Leading decentralized governance infrastructure, Dora Factory, has successfully raised $10 million in strategic funding. The fundraising round saw the participation of prominent institutional investors such as Nomad Capital, No Limit Holdings, Sky9 Capital, UOB-Signum Blockchain Fund, Interop Ventures, Longling Capital, and nine others.
This funding will accelerate the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods funding technology stack.
Dora Factory is a leading infrastructure company specializing in public goods technology and decentralized governance. Their flagship offering is the Public Good Staking infrastructure, which enables ecosystem funding through block incentives. They also provide Dora Vota, a Cosmos SDK appchain hosting dGov protocols, and the multi-chain Quadratic Governance protocol stack, an on-chain mechanism that democratizes public goods funding while ensuring privacy through anonymous and general MACI voting infrastructure.
Recently, the Cosmos Hub community accepted governance proposal No. 917 and a $1 million grant to AEZ Quadratic Grant. These grants will utilize Dora Factory’s voting appchain, Dora Vota, to conduct 10 rounds of quadratic funding over the next 24 months. The funding will be allocated to startups and public good builders in the Cosmos Hub and associated ecosystems, aiming to create a flourishing ATOM Economic Zone.
Earlier this year, Dora Factory completed its first strategic round, led by Whampoa Digital, co-founded by Amy Lee. Notable investors such as Binance Labs, HashKey, and The LAO have also backed Dora Factory, contributing to a total funding of $17.5 million in 2021.
Eric Zhang, the Architect of Dora Factory, expressed the company’s commitment to the research and development of decentralized governance apps and infrastructure since its establishment in 2020. Through Dora Factory’s infrastructure, over 2,000 startups have received $20 million in on-chain grants.
Dora Factory has established close collaborations with more than 30 Web3 ecosystems, including Aptos, Celestia, Injective, Klaytn, and Akash. These ecosystems have embraced Dora Factory’s protocol stacks, providing long-term, block-native, sustainable funding support to public goods builders and early-stage development teams through the innovative approach of Public Good Staking, introduced by the Dora Factory team in 2022.
Erick Zhang, Partner of Nomad Capital, stated:
Gin Chao, Founding Partner of No Limit Holdings, commented:
Steve Ngok, core contributor to Dora Factory, added:
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