Story Protocol’s Series B was co-led by a16z Crypto and Polychain Capital. The funds were targeted at developing its L1 blockchain, designed for IP tokenization.
Palo Alto-based startup PIP Labs has announced an $80-million Series B funding round co-led by a16z Crypto and Polychain Capital to support the development of Story Protocol, a layer-1 blockchain designed specifically for managing intellectual property (IP).
Several other investors participated in the round, including Hashed, Foresight Ventures, Samsung Next, Mirana Ventures, SparkLabs Global and angel investors. In total, PIP Labs has received $140 million in funding, with a16z Crypto participating in three funding stages, from seed to Series B.
According to Bloomberg, this latest round boosts the startup’s valuation to $2.25 billion, though PIP Labs has not confirmed or denied the figure.
