Binance-Listed Altcoin Announces Investment from 7 Different Institutional Investors – Price Reacts

Biconomy (BICO) altcoin, the largest Account Abstraction provider in the web3 space, has secured strategic funding from leading web3 venture capitalists, according to its official statement.

Jump Capital, Borderless Capital, Consensys Ventures, Taisu Ventures, Manifold Trading, Side Door Ventures and Blockchain Founders Fund participated in the financing round.

Notable angel investors in the round include American entrepreneur and investor Balaji Srinivasan and Selini Capital founder Jordi Alexander.

Aniket Jindal, co-founder of Biconomy, said in his statement about the development:

“Successfully completing this significant investment round proves the power and promise of our vision to empower web3 developers to drive mass adoption of blockchain technology.

“We remain committed to our goal of delivering a market-leading infrastructure for Web3 teams and are grateful for the trust and support of our investors.”

According to the statements on the developers’ official website, BICO defines itself as follows:

“Biconomy is decentralized by offering plug-and-play application programming interfaces (APIs) that help transfer transactions between layer 1 blockchain networks, the main network on which a cryptocurrency system runs, and layer 2, a complementary system that helps a crypto system process more data.” It aims to make developing applications (dapps) relatively easy.”

Graph showing the rise in BICO price after the development.

*This is not investment advice.

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