Golden Secures $40M With a16z Leading the Funding Round

Web3.0 decentralized startup Golden announced that it has secured $40 million in a Series B funding round with Andreessen Horowitz (a16z) as the lead investor.

Golden provided a long list of additional investors who supported the Series B round amongst which are Protocol Labs, OpenSea Ventures, DCVC, MVP Ventures, Vela Partners, and Socii Capital.

Furthermore, a16z general partner and former Google software engineer Ali Yahya will be joining a16z co-founder Marc Andreessen as a member of the Golden Board of Directors. With the fund, Golden plans to “build a decentralized and incentivized system for getting data into a new protocol by incorporating mechanics from Web3.0.”

Participants who successfully and effectively compile decentralized and permissionless data for the Golden protocol get rewarded with tokens. Now, 35,000 interested individuals have submitted facts and validating information to the protocol via the Discord community. As per the published statement, the mainnet is currently in the testnet phase.

a16z Backs Golden Funding Rounds

Many founders, executives, and crypto luminaries also backed the round like Solana co-founder Raj Gokal, Dropbox co-founder Arash Ferdowsi, Postmates founder Bastian Lehmann, founder of Protocol Labs Juan Benet and Matt Bellamy, the lead singer of rock band Muse, and a partner at Helium-3 Ventures amongst others.

Altogether, the Series B round has a total of about 32 investors including a16z bringing the number of its investors in both its Series A and B rounds to 53. Andreessen Horowitz has always been a key investor for Golden. The venture capital firm has participated in almost all the funding rounds which the decentralized knowledge protocol introduces.

In its Series A round, the San Fransisco-based startup generated $14.5 million from a16z and other investors. According to Crunchbase, Golden had closed a funding round with $5 million from a16z and 19 other investors before its Series A round. Cumulatively, the Web3.0 startup has raised about $60 million from all its fundraisers. 

Meanwhile, a16z launched its fourth crypto fund with a base capital of $4.5 billion to support startups in the Web3.0 ecosystem. Its investments in Web3.0 projects have become rampant especially after the company made clear the importance and potential of Web3.0.