By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 min read
Beacon revealed that the program will last approximately 12 weeks, after which the startups will have the opportunity to apply their training in the real world.
After the successful completion of its third blockchain accelerator cohort, Beacon has announced the launch of its next season, featuring 17 promising startups backed by prominent venture capitals such as Andreessen Horowitz (a16z), Polychain, and Pantera Capital.
According to the company, which was established by Sandeep Nailwal, the co-founder of Polygon, the selected participants are focused on various sub-sectors within the crypto industry, including decentralization, infrastructure, and artificial intelligence (AI).
Beacon described the latest season as its “fourth and largest cohort to date”. The blockchain firm, which supports early-stage startups by providing financial backing and the necessary tools for success in the emerging economy, was launched in December 2022 and officially began operations in January 2023.
Since then, the firm has conducted several cohorts, with the last season one featuring around many participants, including Range Protocol, a decentralized finance (DeFi) platform focused on asset management, and Zero Gravity, a Web3 modular infrastructure developer.
According to Beacon, these participants have made “a major mark” in the industry since being selected for the program. Two notable alumni, 0G, a scalable data availability layer, and ORA, a verifiable oracle protocol, have even attained unicorn status following their graduation.
For the fourth cohort, Beacon noted that the participating startups are its most diverse group so far. Among the 17 projects, some have already completed their Series A funding rounds.
For instance, Aligned Layer, a blockchain verification protocol based on Ethereum, announced in April that it raised $20 million in a Series A round led by Hack VC, aimed at enabling faster and cheaper zero-knowledge (ZK) proofs on the Ethereum network.
Another startup, Nubit, recently closed its $8 million seed round, bringing its total funding to $12 million as of June 2024.
Nubit seeks to create a highly secure and scalable data availability (DA) layer designed for multi-chain ecosystems, enabling a wide range of applications such as AI, SocialFi, and GameFi.
These are just two of the 17 projects selected for the fourth cohort. The new season will also feature Stakestone, EXO, Avantis, Compute Labs, Crynux, Warlock, TON App Chain (TAC), and eOracle.
Beacon revealed that the program will last approximately 12 weeks, after which the startups will have the opportunity to apply their training in the real world. They will also pitch their businesses to investors on Demo Day for additional support.
Co-founder Nailwal believes that the participating companies will play a significant role in shaping the future of Web3.
“We’re thrilled to welcome our largest and most diverse cohort so far. The caliber of companies joining us in the latest program is truly exceptional, and we’re excited to see how, with the aid of our mentorship and resources, they’ll go on to shape the future of Web3 and beyond,” said Nailwal.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
