TON Builder TOP Raises $28.5M, Reaches $1B Valuation
TON Builder The Open Platform Reaches Unicorn Status
The Open Platform (TOP), a venture builder and accelerator focused on the TON blockchain ecosystem, announced a successful extended Series A funding round of $28.5 million. This brings TOP's valuation to $1 billion, marking it as one of the first TON-focused unicorns.
Key Highlights
- $28.5 million raised in extended Series A.
- Valuation reaches $1 billion.
- Funding led by Ribbit Capital and Pantera Capital.
- Focus on global expansion of Wallet in Telegram and incubation of new TON projects.
This funding round, led by Ribbit Capital with participation from Pantera Capital, represents approximately 5% equity in TOP. CEO Andrew Rogozov confirmed that no tokens were issued during this round. With this investment, TOP has now raised over $70 million in total funding.
TOP is the primary developer of Wallet in Telegram, the integrated crypto wallet for Telegram's officially supported blockchain. The company plans to use the new funding to significantly expand the wallet's reach into the US and EU markets. This expansion will include a focus on:
- Go-to-market strategies
- Regulatory licensing and compliance
- Infrastructure development
The wallet is already available in regions such as Russia and Asia. Beyond wallet expansion, TOP will leverage the funding to further incubate other TON-based projects, with a particular interest in blockchain games and AI applications.
“This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel,” said Rogozov. “By combining TON blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto.”
At Codeum, we provide comprehensive blockchain security and development services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. We help projects like TOP navigate the complexities of the blockchain space.