The Open Platform Reaches $1B Valuation After Series A Extension

The Open Platform, a company building technology on the TON blockchain for use in Telegram, has reached a $1 billion valuation after completing its Series A and extension funding rounds. It is the first company in the TON ecosystem to reach this milestone.

The company raised $28.5 million in the extended Series A round. Ribbit Capital and Pantera Capital participated. The Open Platform has now raised more than $70 million in total. The company plans to use the new funds to expand into international markets, including the U.S. and EU. This move supports the global goals of the TON Foundation, which promotes the growth of the TON blockchain.

The Open Platform develops infrastructure and apps across sectors like payments, gaming, and digital media. Its projects include Wallet in Telegram, Tonkeeper (a non-custodial wallet), STON.fi (a decentralized exchange), Getgems (an NFT marketplace), Tribute (a creator platform), and Notcoin (a tap-to-earn game).

In March 2024, the TON Foundation announced that firms including Sequoia Capital, Ribbit Capital, Benchmark, and others had purchased $400 million worth of Toncoin. This reflects increasing confidence in the TON ecosystem’s potential inside Telegram.

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