Worldcoin, an ambitious crypto project co-founded by OpenAI CEO Sam Altman, has received a significant financial boost with the latest funding round.
On May 25, the technology company behind Worldcoin, Tools for Humanity, announced an influx of $115 million in series C funding led by Blockchain Capital, marking a crucial step in the project’s journey.
The latest funding round follows a successful raise of $100 million at a $3 billion valuation in March 2022, testifying to Worldcoin’s continued appeal despite the ongoing bear market in crypto.
The recent funding announcement marks a decisive moment for the project, with the funds poised to advance an array of initiatives, notably a new solution to the weakening bulwark of CAPTCHA tests against the relentless onslaught of AI-backed bots.
Bots have always been a bane for blockchain and cryptocurrency projects. Tools for Humanity hopes to stem this tide, borrowing from the success of similar endeavors like Civic.
Blockchain Capital General Partner Spencer Bogart says the lion’s share of this…