Beacon, a leading Web3 accelerator project, has announced its fourth and most substantial cohort, marking a significant milestone in the platform’s growth. Known for nurturing some of the top Web3 startups, Beacon’s latest cohort follows the success of previous batches, which included three unicorns emerging over the past two years. This new cohort comprises 17 carefully selected startups, reflecting substantial growth compared to earlier groups.
Series A Startups and Venture Capital Backing
The fourth cohort has been noted as Beacon’s highest-profile selection since its inception. This round features a strong presence of Series A platforms, with many receiving backing from major venture capital firms. Notable investors supporting these startups include Andreessen Horowitz (a16z), Framework, Founders Fund, and Pantera.
The platform, co-founded by Polygon’s Sandeep Nailwal in 2022, has quickly gained prominence in the Web3 ecosystem, attracting startups across various sectors. This latest cohort brings together companies working in key Web3 areas such as artificial intelligence (AI), decentralized finance (DeFi), and blockchain infrastructure. Some of the standout participants include eoracle, Aligned Layer, Nubit, EXO, and Stakestone, signaling a diverse range of innovation within the Web3 space.
Beacon’s Expansion and Mentorship Goals
Nailwal shared his enthusiasm for the latest developments at Beacon, highlighting that this cohort is not only the largest but also the most diverse in the project’s history. He expressed confidence in the caliber of the companies joining the accelerator, stating that these entities are expected to drive significant advancements in the Web3 sector. Nailwal also noted that Beacon’s mentorship and resources are set to provide the startups with the necessary tools to accelerate their growth and shape the future of decentralized technologies.
The announcement of the fourth cohort comes on the heels of the successful completion of Beacon’s S23 cohort. This previous cohort included 10 startups, several of which have made remarkable progress in the industry. The success of the S23 cohort has raised expectations for the newly announced group, which is poised to build on the momentum established by its predecessors.
S23 Alumni Reach Unicorn Status
Two notable startups from the S23 cohort, 0G and ORA, have already achieved unicorn status. 0G operates as a data availability layer, while ORA is a protocol for verifiable oracles. Both companies have secured significant funding, with ORA recently raising $20 million in a round led by Polychain Capital. In addition, Inco, a global confidentiality layer, successfully closed a $4.5 million seed round, with 1kx leading the investment. Other participants in the funding round included Robot Ventures and dao5.
Fluent, a Layer-2 Ethereum solution, also gained significant traction by raising $7.5 million in seed funding, with backing from both dao5 and Polychain Capital. These success stories have set a high bar for Beacon’s newest cohort, as expectations for substantial early growth are now part of the program’s growing legacy.
Startups Poised to Drive Web3 Innovation
The fourth cohort includes several startups with the potential to become industry leaders. Beacon has identified Aligned Layer, Avantis, Compute Labs, Crynux, eoracle, EXO, EZKL, Lorenzo Nodekit, Nubit, Othentic, PADO, Pallet, Pin AI, Stakestone, TAC, and Warlock as key participants in this batch. These companies are working on cutting-edge projects that span the breadth of the Web3 ecosystem, from AI-driven solutions to decentralized infrastructure.
With its fourth cohort, Beacon continues to solidify its reputation as a premier accelerator in the Web3 space. By providing mentorship, resources, and access to venture capital, Beacon is helping startups navigate the complex landscape of blockchain technology, DeFi, and AI. The ongoing support from major investors further underscores the confidence placed in these emerging Web3 players, as they push the boundaries of innovation and aim to shape the future of decentralized systems.
As the Web3 sector continues to evolve, Beacon’s accelerator program remains a crucial platform for the next generation of tech startups. With a track record of nurturing successful companies and an expanding global presence, Beacon is poised to remain at the forefront of Web3 innovation. This latest cohort marks another step toward realizing the platform’s mission of building a robust decentralized future.