Tonstarter Raises $1.5M Seed Funding to Power Up TON Ecosystem and Reach Telegram’s 700M Users

Key Takeaways

• Tonstarter has raised $1.5 million in a seed round led by Kingsway Capital, Gate.io, and DWF Labs to support a variety of projects across The Open Network (TON) ecosystem.
• The fundraising platform will focus on decentralized finance, decentralized exchanges, non-custodial wallets, lending and borrowing protocols, gaming, and the metaverse.
• Projects incubated by Tonstarter will have access to Telegram’s 700 million user base, potentially enabling them to reach a much larger audience.

Tonstarter, the primary fundraising platform on The Open Network (TON), has raised $1.5 million in a seed funding round led by Kingsway Capital, Gate.io, and DWF Labs along with participation from Orbs, Baboon VC, Existential Capital, and Hexit Capital.

Tonstarter, which is incubated by First Stage Labs, will support various projects across the TON ecosystem, including decentralized finance, decentralized exchanges, non-custodial wallets, lending and borrowing protocols, gaming, and the metaverse.

Tonstarter Founder, Alex Plotvinov, said: “As the main fundraising platform on TON, Tonstarter will nourish and support so many amazing projects in the TON ecosystem, offering expertise and a network while also connecting builders with relevant investors and advisors.”

“We aim to make investments in blockchain projects that are transparent, streamlined and at scale,” Alex added.

The TON Foundation aims to empower billions of Telegram users with genuine Web3. The platform’s projects will have access to Telegram’s 700 million user base, potentially enabling them to reach a much larger audience.

The TON Foundation, a non-profit association of developers and enthusiasts, was established to advance TON, a technology that aims to unite all blockchains and the Web2 internet into one open network.

TON’s layer-1 architecture is designed to scale up to 2 to the power of 32 workchains, each of which can be subdivided into up to 2 to the power of 60 shardchains, and it can support millions of transactions per second instantly.

Read Also: Blockchain Development Platform Reach Raises $12M

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• Source: https://alexablockchain.com/tonstarter-raises-1-5m-seed-funding/