Dora Factory Secures $10M to Revolutionize Decentralized Governance

12

Dora Factory, the leading decentralized governance infrastructure, has successfully closed a significant $10 million strategic funding round. This monumental achievement saw participation from notable investors, including Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital, and nine other renowned institutional investors.

The influx of capital aims to fast-track the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods funding technology stack. Central to Dora Factory’s focus are several core products: the Public Good Staking infrastructure, which catalyzes ecosystem funding through block incentives; Dora Vota, a Cosmos SDK appchain that hosts decentralized governance protocols; anonymous MACI and general MACI, privacy-preserving, collusion-resistant zk voting infrastructures; and a multi-chain Quadratic Governance protocol stack designed to democratize public goods funding.

Follow us on Google News! ✔️


Notably, the Cosmos Hub community recently approved a governance proposal (No.917) which grants $1 million to the AEZ Quadratic Grant. This grant is set to enable ten rounds of Quadratic Funding over the next 24 months using Dora Factory’s Voting appchain, Dora Vota. The allocated funds will target public good builders and startups within the Cosmos Hub and its related ecosystems, contributing to a thriving ATOM Economic Zone.

Earlier this year, Dora Factory secured its first strategic funding round led by dao5, a venture capital firm established by former Polychain General Partner Tekin Salimi, alongside Whampoa Digital, co-founded by Amy Lee. Lee is a former senior partner at Lee & Lee, a law firm founded by Lee Kuan Yew, Singapore’s first prime minister, and his wife. Prior to these developments, Dora Factory had amassed $17.5 million in 2021, with investments from Binance Labs, HashKey, and The LAO.

“Building pioneering public goods funding and governance infrastructure is essential for advancing the global hacker movement and driving frontier tech innovation,” remarked Eric Zhang, Architect of Dora Factory. “We are honored to receive substantial support from our ecosystem partners and the Web3 community. Decentralized governance has a complex and fascinating tech stack, and we are just scratching the surface. The past three years of work have laid a robust foundation for what’s to come.”

Since its inception in 2020, Dora Factory has been committed to the research and development of decentralized governance infrastructure and applications. Over 2,000 startups have leveraged Dora Factory’s infrastructure to secure $20 million in on-chain grants.

Dora Factory has formed key partnerships with more than 30 Web3 ecosystems, such as Aptos, Celestia, Injective, Klaytn, and Akash, integrating its protocol stacks into these systems. The launch of Public Good Staking in 2022 exemplifies the firm’s innovative approach, providing sustainable, block-native funding support to public goods builders and early-stage developer teams.

“The governance assets for on-chain communities have scaled to monumental proportions, reaching the hundred-billion-dollar mark. This is indeed a golden era for governance technology,” stated Erick Zhang, Partner of Nomad Capital. “Dora Factory has established itself as the industry’s cornerstone for public goods infrastructure after four years of dedicated development. We are excited to support their mission to empower developers, drive Web3 innovation, and expand technologies like aMACI through this investment.”

Gin Chao, Founding Partner of No Limit Holdings, added, “Dora Factory’s strides in developing Dora Vota and privacy-preserving voting technologies underscore their leadership in Web3 governance and public good funding. This facet of blockchain’s value proposition is crucial, evidenced by the millions of votes cast and over 2000 projects supported via Quadratic Funding. Our investment is a pledge to support their continuous efforts.”

Steve Ngok, a core contributor to Dora Factory, expressed enthusiasm about the future, stating, “With new investor support, we are eager to expand the Dora Factory ecosystem. Our plans include advancing multi-chain quadratic funding, Public Good Staking, and anonymous MACI use cases, while also building innovative governance apps on Dora Vota. We strive to deliver a comprehensive suite of products offering exceptional experiences for on-chain communities and teams pioneering frontier technologies.”

Dora Factory aims to empower decentralized governance and effective funding solutions for the global hacker movement, open-source communities, and Web3 public goods, through its cutting-edge protocols and infrastructures.