Near Protocol raised $350M in a latest funding round led by Tiger Global
The blockchain enterprise Near Protocol has reportedly secured a $350 million fundraiser. The initiative was led by Tiger Global Management an American investment firm with over $9- billion in assets under management.
Amos Zhang a Partner at MetaWeb VC said the fundraiser led by a giant like Tiger Global "obviously means that near may one be of the protocols that can take over the world."
The $350 million investment is more than double the amount Near Protocol secured at the beginning of 2022. if raised $150 million in funding from high-profile investors including Andressen Horowitz, Alameda research, and three arrows capital.
Near Protocol's market capitalization stands at over $10 billion, placing it among the top 20 cryptocurrency projects.
The price of the native token of the Protocol NEAR has also gone through an impressive increase in the last month.
Its UDS value stood at approx $6 in April, while now it trades more than 150% higher at approx $16
The blockchain protocol has also played a role in the Russia-Ukraine war near's Ukrainian Co-founder Allia Polosukhin helped move at least 50 people out of the nation due to the conflict and raised over $3 million to pay for food, medicine, and evacuation efforts.
The executive was part of a wave of millions of Ukrainians who left their homeland in recent weeks. Now, Polosukhin resides in Portugal which turned out to be a preferred destination for refugees because of its crypto-friendly policies.