Near Protocol Blockchain Raises $350M In A Funding Round

According to reports Near Protocol has secured a $350 million fundraiser, led by Tiger Global Management – an American investment firm with over $90 billion in assets under management (AUM).

Amos Zhang, a Partner at MetaWeb VC said the fundraiser led by a giant such as Tiger Global “obviously means that Near might be one of the protocols that can take over the world,” according to Bloomberg.

Earlier this year, Near Protocol raised $150 million in funding from high-profile investors, including Andreessen Horowitz, Alameda Research, and Three Arrows Capital. The new round is more than double to the earlier round.

As of now, Near Protocol has market capitalization over $10 billion, is ranked as the 19th largest crypto project. The price of the native token NEAR gone up significantly over the past several months.

In April last year, NEAR was trading at around $6, while at the time of writing, it is trading at $15.16.

The blockchain protocol has also played a role in the Russia-Ukraine war. Near’s Co-Founder, Illia Polosukhin, is from Ukraine, and helped move at least 50 people out of the country due to the conflict and raised over $3 million to pay for food, medicine, and evacuation efforts.

Polosukhin resides in Portugal, which turned out to be a preferred destination for refugees.