Boba Network joined the Unicorn Club after raising $115 million across multiple funding rounds, reaching a $2 billion valuation. Founded in 2018 and headquartered in Singapore, Singapore, Boba Network is a blockchain scaling solution built to support faster, cheaper, and more flexible decentralized applications.
The network focuses on hybrid compute, optimistic rollups, and developer friendly infrastructure for Web3 applications.
Keep reading to learn how Boba Network scaled into a $2 billion crypto infrastructure unicorn.
What Is Boba Network and What Does It Do?
Founded in 2018, Boba Network is a layer 2 blockchain scaling solution designed to improve transaction speed and reduce costs for decentralized applications. Built on optimistic rollup technology, Boba enables Ethereum compatible smart contracts while extending functionality through hybrid compute that connects on chain and off chain resources.
Boba Network supports DeFi, gaming, NFTs, and Web3 infrastructure use cases, offering developers faster execution, lower gas fees, and enhanced programmability across multiple blockchain ecosystems.
How Much Funding Has Boba Network Raised?
1. Series A Round
- Amount Raised: $45 million
- Date: 2021
- Lead Investors: Lightspeed Venture Partners
- Purpose: Expand engineering team, launch mainnet, and grow developer ecosystem
2. Strategic Round
- Amount Raised: $70 million
- Date: 2022
- Valuation: Approximately $2 billion
- Lead Investors: Huobi, Binance Labs, Coinbase Ventures, Crypto.com Capital
- Purpose: Accelerate ecosystem growth, expand cross chain deployments, and scale global adoption
Total Funding Raised: $115 million Latest Funding Date: 2022 Latest Known Valuation: $2 billion
Key Investors
- Lightspeed Venture Partners
- Details: Global venture capital firm investing in technology platforms
- Focus Areas: Blockchain infrastructure, developer platforms, and high growth software
- Huobi
- Details: Global digital asset exchange and strategic investor
- Focus Areas: Blockchain ecosystems, Web3 infrastructure, and crypto services
- Binance Labs
- Details: Venture arm of Binance supporting Web3 innovation
- Focus Areas: Blockchain protocols, decentralized finance, and crypto infrastructure
- Coinbase Ventures
- Details: Venture investment arm of Coinbase
- Focus Areas: Blockchain networks, developer tools, and Web3 platforms
- Crypto.com Capital
- Details: Investment arm of Crypto.com
- Focus Areas: Digital assets, blockchain protocols, and decentralized applications
Where Is Boba Network’s Headquarters?
Boba Network is headquartered in Singapore, Singapore, serving as the base for its protocol development, ecosystem partnerships, and global Web3 operations.
What’s Next for Boba Network?
Boba Network plans to expand its hybrid compute capabilities, support additional blockchain ecosystems, and deepen adoption among developers building decentralized applications. The project is focused on scaling Web3 infrastructure, improving interoperability, and enabling more advanced smart contract use cases through off chain computation and cross chain integrations.
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