Blockchain Startup Alchemy Receives $15 Million Investment Boost From Tech Giants

Alchemy, a startup firm in blockchain infrastructure, has received investment boosts from prominent mainstream entities. Stanford University is among the investors funding the blockchain firm. There are other industry leaders from various business sectors who are also supporting with their funds.

Alchemy is a new company that offers blockchain infrastructure and other blockchain tools for industry developers. The company has garnered almost $15 million as a contribution from top business executives from notable companies. Yesterday, Bloomberg reported that LinkedIn’s co-owner Reid Hoffman and Yahoo’s co-founder Jerry Yang are among the contributors to the Alchemy project. Reporters reached out to Alchemy and Stanford, but the two companies have not responded yet.

Other leading companies contributing to the project include Dreamers, Kenetic, StartX, Samsung, SignalFire, Mayfield, and Coinbase. Other notable individual contributors include Tom Clocer (Ex Thomson Reuters CEO), Google’s chairman John Hennessy, founder Charles Schwarb.

With the funding, the company is now equipped to grow its market and offer complete blockchain technology to developers. Experts have hailed this development, pointing out that it will help the speeding adoption of blockchain technology.

Mainstream offering more support to blockchain technology

Blockchain is gradually gaining momentum as its popularity keeps growing. Traders and stakeholders in the industry agreed that when blockchain received more support from the mainstream, it will help to make the technology an integral part of business operations. Already, it has seen support from the health sector and the mainstream financial section.

Alchemy joins a long list of companies supporting Blockchain’s growth

Alchemy is not the only company that provides blockchain infrastructure to developers. Oracle and Amazon Web Services have been providing such services for some time now.

Alchemy’s co-founders, Joe Lau and Nikil Viswanathan have stressed their desire to make the swift adoption of their infrastructure for the enhancement of blockchain technology. They were former members of Stanford, and it’s obvious their past influence in the company was significant in the funding of alchemy.

Viswanathan said the company’s goal is to become the ‘Microsoft of Blockchain’. He compared Microsoft’s influence on computer development and utilization to the present problem affecting blockchain technology utilization.

He pointed out that computers were only operated and available to researchers and multinationals some decades ago. But today, anyone could own and operate a computer. Viswanathan also said Alchemy is working hard to make blockchain technology available and accessible to everyone. In his view, that is when they can say blockchain has reached its heights. The alchemy network has gained more than 500,000 participants since its launch two years ago.

Alchemy is repositioning for unprecedented growth

Alchemy has grown in leaps since its launch, as it has become the world’s leading blockchain infrastructure portal. It provides services to millions of users in more than 200 countries. Today, the platform is in partnership with some of the top companies in the world that make use of blockchain. Alchemy has customers from different business sectors, including entertainment, gaming, healthcare, finance, and lots more. The platform offers developers with state-of-the-art blockchain infrastructure that is scalable and more reliable than other existing alternatives.

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