Dora Factory, a leading player in decentralized governance infrastructure, has announced the successful closing of a $10 million strategic funding round.
This raise saw participation from prominent 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 notable institutional investors.
Accelerating Growth and Innovation
The newly raised funds will be used to accelerate the adoption and strategic expansion of Dora Factory’s cutting-edge decentralized governance and public goods funding technology. Dora Factory’s core products include:
- Public Good Staking: Infrastructure enabling ecosystem funding driven by block incentives.
- Dora Vota: A Cosmos SDK appchain hosting decentralized governance (dGov) protocols.
- Anonymous MACI and General MACI: Privacy-preserving, collusion-resistant zk voting infrastructure.
- Multi-chain Quadratic Governance Protocol Stack: An on-chain mechanism democratizing public goods funding.
Recent Developments
Last week, the Cosmos Hub community approved governance proposal No. 917, which includes a $1 million grant for AEZ Quadratic Grant. This initiative will run ten rounds of Quadratic Funding over the next 24 months via Dora Factory’s Voting appchain, Dora Vota. The funding will be distributed to public good builders and startups within the Cosmos Hub and related ecosystems, fostering a thriving ATOM Economic Zone.
Previous Funding and Strategic Partnerships
Earlier this year, Dora Factory secured its first strategic round led by dao5 and Whampoa Digital. Previously, in 2021, Dora Factory raised $17.5 million with contributions from Binance Labs, HashKey, and The LAO.
Eric Zhang, Architect of Dora Factory, emphasized the importance of building robust public goods funding and governance infrastructure to drive global tech innovation. He acknowledged the significant support from ecosystem partners and the Web3 community, highlighting that the journey of decentralized governance is still in its early stages with many exciting developments ahead.
Achievements and Future Plans
Since its inception in 2020, Dora Factory has facilitated the disbursement of $20 million in grants to over 2,000 startups through its infrastructure. More than 30 Web3 ecosystems, including Aptos, Celestia, Injective, Klaytn, and Akash, have integrated Dora Factory’s protocols, making it a cornerstone in the industry. The introduction of Public Good Staking in 2022 has provided sustainable funding to public goods builders and early-stage developers.
Erick Zhang, Partner of Nomad Capital, noted that the assets under governance for on-chain communities have reached a significant scale, marking the golden era for governance technology. He praised Dora Factory’s four years of dedicated development, positioning it as a leader in public goods infrastructure.
Gin Chao, Founding Partner of No Limit Holdings, highlighted Dora Factory’s advancements in Web3 governance and public good funding, recognizing their impact with millions of votes cast and over 2,000 projects funded through Quadratic Funding (QF).
Steve Ngok, a core contributor to Dora Factory, expressed excitement about growing the Dora Factory ecosystem with support from new investors. Future plans include innovations in multi-chain quadratic funding, expanding the use cases of anonymous MACI, and developing new governance apps on Dora Vota.
