DoraHacks is a global hackathon organizer as well as one of the world’s most active Web3 developer communities.
DoraHacks received $8 million in funding from Binance Labs, the venture capital arm of the world’s leading exchange, according to a press release.
DoraHacks is one of the most active Web3 developer communities in the world, and it offers on-chain toolkits to assist developers all over the world in raising funds for their startups.
According to the press release, over 1,000 projects have received over $12 million in grants and donations from supporters all over the world.
Bill Chin, Head of the Binance Labs Fund, commented on the matter, saying, “Backing early-stage startups and developers has always been a strategy for Binance Labs.” DoraHacks is one of the largest multi-chain developer communities, with many exciting Web3 projects in the works. As part of the investment, Binance Labs will continue to build crypto communities with DoraHacks and create a more open-source and diverse blockchain world. Binance Labs and DoraHacks are co-organizing Season 3 of the Binance Labs Incubation Program as one of the initiatives.
Grants, funding, and incubation resources to support additional early-stage Web3 startups are among the areas in which the two teams intend to collaborate.