The Open Platform (TOP), a developer of blockchain solutions based on The Open Network (TON), has successfully completed its Series A funding round, raising $28.5 million at a company valuation of $1 billion.
This is reported by Finway
Key Investors and Share Distribution
The main investor in the round was the venture capital firm Ribbit Capital, which acquired approximately 4% of TOP’s shares. Other participants in the funding included Pantera Capital (around 1%) and an anonymous investor. Among the other shareholders of the company are Kingsway Capital and Brevan Howard partner Kevin Hu.
“According to the project’s CEO Andriy Rohozov, the fundraising covered about 5% of the company’s shares and did not involve the distribution of cryptocurrencies.”
Wallet Development in Telegram and New Projects Based on TON
TOP is known as the developer of Wallet in Telegram — the official cryptocurrency wallet for the TON network. The company plans to use the investment to expand its product presence in the US and European markets. Additionally, part of the funds will be directed towards incubating new projects, including blockchain games and applications utilizing artificial intelligence based on TON.
As reported, in July 2024, The Open Platform has already invested in Akedo Games to create games within the TON ecosystem, confirming its strategy of supporting innovative products based on this blockchain.