Alchemy, a developer of tools and infrastructure services for blockchain projects, has raised $15 million in a new Series A funding round.
Alchemy's new funding comes from a notable list of investors, including Stanford University, Google chairman John Hennessy, Yahoo founder Jerry Yang, and Charles Schwab. Coinbase, LinkedIn founder Reid Hoffman, and former Thomson Reuters CEO Tom Clocer also contributed, and the round was led by crypto industry investment firm Pantera Capital, according to press statements.
The San Francisco-based firm, founded in 2017, plans to use the new funds to scale up its existing services and fuel its international expansion efforts, Alchemy co-founder Joseph Lau told The Block. Alchemy's pitch is that it can help ease development on blockchain protocols like bitcoin, ethereum and others by offering dedicated toolkits and services.
Alchemy’s platform now serves over one million users from more than 200 countries, Lau said. Some of its prominent clients include web browser Opera, Augur, 0x, Binance Wallet, and ethereum app CryptoKitties.
The company’s two co-founders Lau and Nikil Viswanathan previously created the social app Down to Lunch in 2015, which allows users, especially college students, to make hangout plans with one another.