Near Foundation Raises $ 150 Million for DeFi Development

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The Near Foundation raised $ 150 million in two weeks and thus closed the last investment round.

One of the most promising blockchain platforms, Near has completed its latest funding round that took only two weeks. The sum of $ 150 million was raised thanks to cryptocurrency funds, the largest share was contributed by Three Arrow Capital. The round was also attended by such funds as Dragonfly Capital, Mechanism Capital, Amber Group and others.

Dragonfly CEO Ashwin Ramachandran believes that the speed with which such a significant amount has been raised speaks to the enthusiasm of investors and a huge faith in the blockchain project.

“From a technical point of view, Near has done a great job and we will be happy to help them reach the next level where they can fully unleash their technological potential,” Ramachandran said.

Near is going to invest the money it received from the investment round in the development of Web 3 technology, as well as advertise the project and attract new users.

In late October last year, Near announced that it would provide $ 800 million in grants for developers and individual projects in its ecosystem. As a result, the company allocated more than a third of the amount to the development of DeFi.

Since its launch in Q4 2020, Near has processed approximately 70 million transactions and supports over 2.3 million accounts.

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