Syndicate Raises ‘Unofficial’ Round of Over 50 Partners to Bring DAO to the Masses

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Launch Web3 Syndicatethe goal is to demystify the DAO (Decentralized Autonomous Organization). His product “Web3 Investment Clubs”, which TechCrunch covered in Januaryallows users to create an investment group with their peers by pooling their capital and voting on how to distribute the funds.

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More than 1,100 investment clubs have been created on the Syndicate platform since the product was launched three months ago, according to the company. In addition to sharing information about their progress, Syndicate just announced that it has raised $6 million in strategic investments from over 50 of its clients and partners.

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The attraction includes strategic investors such as Carta, Circle Ventures, OpenSea and New venture division Uniswap Labs, as well as institutional foundations of foundations, non-profit organizations and web3 talent networks. The new round brought total funding to just over $28 million, the company said, including the $20 million it received in Series A under Andreessen Horowitz last August.

“While the round comes immediately after Series A, this is not the traditionally structured Series B round,” said Yang Li, co-founder of Syndicate. said Coindeskcalling it “an unofficial engagement of clients and strategic partners closed for weeks.”

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Credit: techcrunch.com /

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