TechFlow news, on July 3, according to Fortune, The Open Platform, a development platform for the Telegram ecosystem, announced it has raised $28.5 million in Series A funding, achieving a post-money valuation of $1 billion. The round was led by Ribbit Capital, with participation from crypto venture capital firm Pantera Capital. Approximately 5% equity was sold in this round, with no allocation for cryptocurrency shares.
The Open Platform has now raised over $70 million in total funding. TOP is the core development team behind Telegram's official blockchain, The Open Network (TON), and its "Telegram Wallet" product is already available to users in Russia, Asia, and other regions. The new funds will be used to expand into compliant markets in Europe and North America, as well as to incubate blockchain gaming and AI applications built on TON.
