Ava Labs Raises Funding to Hit $5.25 Billion Valuation
Ava Labs Inc, the developer of the Avalanche crypto, is in the process of raising $350 million in funding. If successful, this would bring the company’s valuation to $5.25 and make it one of the biggest crypto startups.
The network has received attention from high net worth retail investors and institutional investors. In April 2022, Grayscale had rebalanced its Digital Large Cap Fund to include Avalanche.
Ava Labs is on track to hit a $5.25 billion valuation with a $350 million funding round according to Bloomberg
—Blockworks (@Blockworks_) April 14, 2022
Then Kevin O’Leary of Shark Tank reportedly said ” Ethereum is too slow for me, as a specialist in financial services” during an interview at the conference Bitcoin 2022 to Miami. He said he was bullish on AVAX among other cryptocurrencies, which have higher transaction speeds.
It is not the first time that Avalanche raises significant funds for its development. After raising $18 million in two separate rounds, the company had raised $250 million by September 2021 from several high-profile investors.
Avalanche opens DeFi to institutions
Large institutional investors are crucial for the success of a crypto project. In this sense, Ava Labs collaborates with GhostGoldenTree Asset Management, Wintermute, Jump Crypto, Valkyrie, Securitize and other institutions to create the first horizontally integrated blockchain designed specifically for institutions looking to adopt DeFi with native KYC functionality. This will allow regulated institutions to use the technology of Subnets to access institutional DeFi adoption.
290 million dollars to boost its network of Subnets
The Avalanche Foundation has launched Avalanche Multiverse, a $290 million incentive program aimed at accelerating the acceptance and capacity expansion of its Subnets or subnets. These provide a rich ecosystem of scalable blockchains specific to decentralized applications.
The initiative will focus on building new ecosystems such as blockchain-based games, DeFi platforms, NFTs and solutions for financial institutions.