As a seasoned researcher with a keen interest in the ever-evolving world of web3 and blockchain technology, I find myself utterly captivated by the latest announcement from Beacon – a pioneering accelerator program that’s been making waves since its inception by none other than Polygon co-founder, Sandeep Nailwal. The sheer magnitude of this new cohort is nothing short of impressive; with 17 promising companies, backed by big names like Pantera, Founders Fund, Framework, and a16z, it’s clear that we’re witnessing the rise of the next generation of web3 innovators.
New York, New York, September 12th, 2024, Chainwire
Beacon, a top accelerator in the web3 space, has unveiled its fourth and biggest group of startups yet. This new cohort consists of 17 exciting companies chosen for a three-month program, representing an increase in scale compared to past groups, as Beacon continues to fund projects from their early stages through Series A financing.
This newest collective consists of some of the most prominent companies ever to be part of Beacon, a platform established by Sandeep Nailwal, a co-founder of Polygon, in 2022. The group includes several Series A companies that have garnered investment from well-known venture capital firms like Pantera, Founders Fund, Framework, and Andreessen Horowitz (a16z). This diverse group covers various web3 sectors such as DeFi, infrastructure, and AI. Notable members of this cohort include Stakestone, EXO, Nubit, Aligned Layer, and eoracle.
Sandeep Nailwal, Co-Founder of Polygon and Beacon, expressed his excitement as he announced our biggest and most varied group yet. The quality of businesses joining us in this latest round is remarkable, and we’re eager to witness their progress as they leverage our mentorship and resources to help mold the future of web3 and beyond.
Following the commencement ceremony of Beacon’s accomplished S23 group, comprising ten businesses, the announcement was made. Many of these companies have made significant strides since their selection, leaving a lasting impact. Notable alumni from S23 include scalable data availability layer 0G and verifiable oracle protocol ORA, who have both reached unicorn status post-graduation.
In a funding round spearheaded by Polychain Capital, ORA obtained $20 million. On the other hand, Inco, a privacy-focused platform, concluded a $4.5 million seed investment round led by 1kx, with contributions from dao5 and Robot Ventures. Furthermore, Ethereum L2 solution Fluent managed to secure $7.5 million in a seed round jointly led by Polychain Capital and dao5.
Nailwal mentioned that with the high level of talent and ingenuity they see in this fresh team, he is completely convinced they have what it takes to match or even exceed their predecessors’ achievements,” (paraphrased)
Every six months, Beacon offers a three-month long initiative that gives startups access to guidance, tools, and funding to boost their expansion and progression. This program is well-known for being an elite platform fostering web3 innovation.
About Beacon:
Beacon represents an early-stage incubator program for up-and-coming web3 startups, initiated by Sandeep Nailwal, a co-founder of Polygon and Symbolic Capital. This program offers backing to DeFi, gaming, infrastructure, AI, and other web3 projects through funding, guidance, and resources. The goal is to find projects that address real-world demands. This 12-week program takes place twice annually.
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2024-09-12 20:38