Dora Factory, the decentralized governance infrastructure leader, has successfully concluded a strategic raise, securing an additional $10 million in funding. Renowned institutional investors, including Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital, and nine others, participated in the funding round. The raised funds will accelerate the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods funding technology.
Dora Factory is a prominent infrastructure provider focused on decentralized governance and public goods technology. Its key offerings include the flagship Public Good Staking infrastructure, which enables ecosystem funding driven by block incentives. Other products include Dora Vota, a Cosmos SDK appchain hosting dGov protocols, and both anonymous MACI and general MACI, privacy-preserving, collusion-resistant zk voting infrastructures. Additionally, Dora Factory provides the multi-chain Quadratic Governance protocol stack, an on-chain mechanism that democratizes public goods funding.
Recently, the Cosmos Hub community approved governance proposal No.917 and granted $1 million to AEZ Quadratic Grant for conducting ten rounds of Quadratic Funding over the next 24 months via Dora Factory’s Voting appchain, Dora Vota. The funding will support public good builders and start-ups in the Cosmos Hub and related ecosystems, promoting the development of a prosperous ATOM Economic Zone.
Earlier this year, Dora Factory completed its first strategic round, led by dao5 and Whampoa Digital. Dao5 is a venture capital firm founded by former Polychain General Partner Tekin Salimi, while Whampoa Digital was co-founded by Amy Lee, a former senior partner at Singapore law firm Lee & Lee. Prior to this, Dora Factory raised a total of $17.5 million in 2021, with notable investors such as Binance Labs, HashKey, and The LAO.
Eric Zhang, the Architect of Dora Factory, emphasized the importance of building leading public goods funding and governance infrastructure in advancing the global hacker movement and driving frontier tech innovation. Zhang expressed gratitude for the support received from ecosystem partners and the Web3 community, acknowledging the deep and interesting tech stack of decentralized governance and the exciting developments that lie ahead. He also commended Dora Factory’s work over the past three years, which has established a solid foundation for the company.
Since its establishment in 2020, Dora Factory has been dedicated to researching and developing decentralized governance infrastructure and applications. Through its infrastructure, over 2,000 startups have received $20 million in grants on-chain. Dora Factory has become a core ecosystem partner for more than 30 Web3 ecosystems, including Aptos, Celestia, Injective, Klaytn, and Akash, with these ecosystems adopting Dora Factory’s protocol stacks.
Erick Zhang, a partner of Nomad Capital, emphasized that the assets under governance for on-chain communities have reached a hundred-billion dollar scale, making it the golden era for governance technology. Zhang expressed excitement at Dora Factory’s position as the industry’s cornerstone public goods infrastructure after years of dedicated development and iteration. Nomad Capital is thrilled to support Dora Factory’s mission of empowering developers, fostering innovation in the Web3 space, and expanding the adoption of new technologies, including aMACI, through its investment.
Gin Chao, Founding Partner of No Limit Holdings, acknowledged Dora Factory’s leadership in Web3 governance and public good funding through its development of Dora Vota and anonymous privacy voting technology. Chao recognized the crucial role that this plays in blockchain’s value proposition, with millions of votes cast and over 2,000 projects receiving funding through Quadratic Funding. No Limit Holdings views its investment as the first step in continuing to support Dora Factory’s efforts.
With the support of new investors, Dora Factory is excited to further expand its ecosystem. The company’s plans include innovations in multi-chain quadratic funding and Public Good Staking, encouraging developers to explore the use cases of anonymous MACI while building new governance apps on Dora Vota. Dora Factory aims to deliver a suite of products that provide exceptional experiences for on-chain communities and teams working on frontier technologies, according to Steve Ngok, a core contributor to Dora Factory.
About Dora Factory:
Dora Factory develops protocols and infrastructures that facilitate decentralized governance and efficient funding for the global hacker movement, open-source communities, and Web3 public goods. The company’s flagship product, Public Good Staking, is one of the fastest-growing multi-chain staking infrastructures, offering block-native incentives to nurture the next generation of blockchains. Dora Vota is a specialized blockchain for decentralized governance, supporting general MACI interfaces, anonymous MACI, and quadratic governance rounds.
To access Dora Factory products, visit DoraFactory.org. For more information, visit research.dorahacks.io.
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