- The startup has already raised $240 million in total
- The project is set to launch the token in late 2023
Cryptocurrency project Worldcoin has completed a $115 million Series C funding round led by Blockchain Capital.
The round was led by Blockchain Capital, with a16z crypto, Bain Capital Crypto and Distributed Global also participating.
Worldcoin announced the round last February, at which time the company said it planned to raise up to $120 million.
And in May 2023, startup co-founder Sam Altman negotiated to raise an additional $100 million.
It was reported at the time that the startup was valued at $3 billion, but its valuation has not been disclosed at this time.
Tools for Humanity, the lead developer of the Worldcoin project, said that the new capital is being used to further develop the recently launched World App, a wallet designed for the Worldcoin ecosystem.
Alex Blania, CEO and co-founder of Tools for Humanity, said:
“Given our entry into the age of artificial intelligence, it is important that people can maintain their privacy while validating their identity.
This will allow us to ensure that everyone can get the financial benefits that artificial intelligence can provide.”
World ID and the Worldcoin token are actively being worked on in beta at the moment. According to the company, nearly two million people have already joined the project.
You can also read an overview of available Worldcoin activities on our site.