Worldcoin to Raise $100M at $3B Token Valuation: Report
Crypto startup Worldcoin is raising $100 million with investors valuing the company's total stockpile of tokens at $3 billion, The Information reported on Tuesday, citing two unnamed sources.
Investors include Andreessen Horowitz (a16z), which previously invested in Berlin-based Worldcoin, and Khosla Ventures.
The investment will come through the sale of Worldcoin tokens, the Information reported.
It is the second major capital raise in roughly six months for Worldcoin, which raised $25 million at a $1 billion valuation last October. a16z, Coinbase Ventures, Digital Currency Group (the parent company of CoinDesk) were among the investors for that round, which also included angel investors Sam Bankman-Fried, the founder of FTX, and Reid Hoffman, the co-founder of LinkedIn.
Worldcoin, which was co-founded by Y Combinator President Sam Altman, uses chrome, volleyball-sized spheres to scan retinas in exchange for crypto.
The amount each person receives depends on how early in the project’s roll-out they get involved, with the amount diminishing as more people are onboarded.
Read more: Worldcoin, Now Valued at $1B, Has Grand Plans to Get You to Gaze Into the Orb