Captured By Tracy D'souza / 3:54 pm on 22 September 2023
The startup, which creates a decentralized market for information, will use the capital to further the development of its protocol. Freatic, which aims to create a decentralized market for information, has raised $3.6 million in a funding round led by venture capital giant Andreessen Horowitz (a16z). The new capital will help Freatics construct the building blocks for its information-focused protocol, according to the announcement post. While crypto projects have struggled to raise funding during the bear market, a16z has remained an active investor due to its deep pockets. A16z broke industry records in June 2021 with $2.2 billion raised for its third crypto-focused fund, then topped itself with a $4.5 billion fourth fund in May 2022.
