Dora Factory Secures $10M in Strategic Funding

Singapore,
Singapore,
May
23rd,
2024,
Chainwire

Dora
Factory,
the
leading
decentralized
governance
infrastructure,
announced
the
closing
of
another
$10
million
strategic
raise.
Nomad
Capital,
No
Limit
Holdings,
Sky9
Capital,
Singapore’s
UOB-Signum
Blockchain
Fund,
Interop
Ventures,
Cai
Wensheng’s
Longling
Capital,
and
nine
other
renowned
institutional
investors
joined
the
round. 

The
raise
will
accelerate
the
adoption
and
strategic
expansion
of
Dora
Factory’s
decentralized
governance
and
public
goods
funding
tech
stack.

Dora
Factory
is
a
leading
infrastructure
focused
on
decentralized
governance
and
public
goods
technology.
Its
core
products
include
the

flagship
Public
Good
Staking
infrastructure,
which
enables
block
incentive
driven
ecosystem
funding;

Dora
Vota,
a
Cosmos
SDK
appchain
hosting
dGov
protocols;

anonymous
MACI
and
general
MACI,
the
privacy-preserving,
collusion-resistant
zk
voting
infrastructure, and
the

multi-chain
Quadratic
Governance
protocol
stack,
the
on-chain
mechanism
that
democratizes
public
goods
funding. 

Last
week,
the
Cosmos
Hub
community
approved

governance
proposal
No.917
and
a
$1
million
grant
to

AEZ
Quadratic
Grant
to
run
ten
rounds
of
Quadratic
Funding
in
the
next
24
months
via
Dora
Factory’s
Voting
appchain,
Dora
Vota.
All
of
the
funding
will
be
distributed
to
public
good
builders
and
start-ups
in
the
Cosmos
Hub
and
related
ecosystems
building
a
prosperous
ATOM
Economic
Zone.

Earlier
this
year,
Dora
Factory
announced
its
first
strategic
round
led
by
dao5,
a
new
venture
capital
firm
founded
by
former
Polychain
General
Partner
Tekin
Salimi,
and

Whampoa
Digital,
co-founded
by
Amy
Lee,
a
former
senior
partner
at
Lee
&
Lee,
a
Singapore
law
firm
started
by
Lee
Kim
Yew
and
Singapore’s
first
prime
minister,
Lee
Kuan
Yew
and
his
wife.
Prior
to
this,
Dora
Factory
had
raised
a
total
of
$17.5
million
in
2021,
with
investors
including
Binance
Labs,
HashKey,
and
The
LAO.

“Building
leading
public
goods
funding
and
governance
infrastructure
is
a
critical
step
for
the
Dora
team
to
advance
the
global
hacker
movement
and
drive
frontier
tech
innovation,”
said
Eric
Zhang,
Architect
of
Dora
Factory.
“We
are
humbled
to
receive
much
support
from
our
ecosystem
partners
and
the
Web3
community.
In
fact,
decentralized
governance
has
a
deep
and
interesting
tech
stack,
and
we
are
still
at
a
very
early
stage.
There
are
a
lot
of
exciting
developments
ahead.
The
work
from
Dora
Factory
during
the
past
three
years
has
laid
a
solid
foundation
for
them.”

Since
its
founding
in
2020,
Dora
Factory
has
dedicated
itself
to
the
research
and
development
of
decentralized
governance
infrastructure
and
applications.
Over
2,000
startups
have
secured
$20
million
in
grants
on-chain
with
Dora
Factory’s
infrastructure.

Over
30
Web3
ecosystems,
including
Aptos,
Celestia,
Injective,
Klaytn,
and
Akash,
have
worked
closely
with
Dora
Factory
as
their
core
ecosystem
partner
and
adopted
Dora
Factory’s
protocol
stacks.
Through
Public
Good
Staking,
an
innovative
initiative
created
by
the
Dora
Factory
team
in
2022,
they
have
provided
long-term,
block-native,
sustainable
funding
support
to
public
goods
builders
and
early-stage
developer
teams. 

“The
assets
under
governance
for
on-chain
communities
has
grown
to
a
hundred-billion
dollar
scale.
Now
is
the
golden
era
for
governance
technology,”
said
Erick
Zhang, Partner
of
Nomad
Capital.
“Dora
Factory
has
become
the
industry’s
cornerstone
public
goods
infrastructure
after
four
years
of
dedicated
development
and
iteration.
We
are
thrilled
to
support
the
Dora
team
in
their
mission
to
empower
developers,
foster
innovation
in
the
Web3
space,
and
expand
the
adoption
of
new
technologies,
including
aMACI,
through
this
investment.”

“Dora
Factory’s
development
of
Dora
Vota
and
anonymous
privacy
voting
technology
demonstrates
their
leadership
in
Web3
governance
and
public
good
funding.
This
is
a
crucial
piece
of
blockchain’s
value
proposition,
and
we
recognize
their
impact
with
millions
of
votes
cast
and
over
2000
projects
receiving
funding
via
QF.
Our
investment
is
a
first
step
in
continuing
to
support
their
effort.”
said
Gin
Chao,
Founding
Partner
of
No
Limit
Holdings. 

“With
support
from
new
investors,
we
are
excited
to
grow
the
Dora
Factory
ecosystem
further.
Our
plans
include
innovations
in
multi-chain
quadratic
funding
and
Public
Good
Staking,
encouraging
developers
to
expand
the
use
cases
of
anonymous
MACI,
and
building
new
governance
apps
on
Dora
Vota.
Our
goal
is
to
deliver
a
suite
of
products
that
provide
an
exceptional
experience
for
on-chain
communities
and
teams
working
on
frontier
technologies,”
commented
Steve
Ngok,
core
contributor
to
Dora
Factory.

About
Dora
Factory

Dora
Factory
builds
protocols
and
infrastructures
to
enable
decentralized
governance
and
efficient
funding
for
the
global
hacker
movement,
open-source
communities,
and
Web3
public
goods.
Dora
Factory’s
flagship
Public
Good
Staking
is
one
of
the
fastest-growing
multi-chain
staking
infrastructures,
providing
block-native
incentives
to
grow
the
next
generation
of
blockchains.
Dora
Vota
is
a
special-purpose
blockchain
for
decentralized
governance,
supporting
general
MACI
interface,
anonymous
MACI,
and
quadratic
governance
rounds.

To
use
Dora
Factory
products,
go
to

DoraFactory.org.

For
more
information,
visit

research.dorahacks.io

Contact

Community
contributor
Chris
Lee
Dora
Factory
[email protected]