Telegram-based startup TOP secures Series A funding… Amounting to $28.5 million

JOON HYOUNG LEE

Summary

It was reported that The Open Platform has secured Series A funding of $28.5 million.
It was revealed that The Open Platform's company valuation reached $1 billion following this funding round.
The Open Platform was described as the core developer of the Telegram blockchain network TON cryptocurrency wallet.

Telegram-based blockchain startup The Open Platform (TOP) has secured a Series A investment worth $29 million (approximately ₩4 billion).

According to Fortune Magazine on the 3rd (local time), The Open Platform finalized the securing of a Series A investment worth $28.5 million on this day. The company was valued at $1 billion (about ₩1.4 trillion) through this investment.

The Open Platform is the main developer of the cryptocurrency wallet for the Telegram-based blockchain network TON. Pavel Durov, the founder and CEO of Telegram, said, "The Open Platform plays a key role in integrating Telegram's cryptocurrency functions."

The Series A investment was led by fintech-focused venture capital Ribbit Capital. U.S.-based crypto asset management company Pantera Capital also participated in this round.

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