The Open Platform, known as TOP, has closed an additional $28.5 million in Series A funding, elevating its total capital raised to $70 million and solidifying a valuation of $1 billion. The financing round was led by Ribbit Capital, with Pantera Capital also participating as investors increasingly bet on the future of The Open Network (TON), Telegram’s blockchain infrastructure.
TOP specializes in providing tools and infrastructure for developers building decentralized applications within the TON ecosystem. The company’s milestone valuation places it among a small group of blockchain-focused startups that have achieved unicorn status despite a challenging fundraising environment.
Global Expansion and Regulatory Focus Ahead
With fresh capital in hand, TOP plans to accelerate its international expansion, launching portfolio projects across the United States, the European Union, and additional key markets.
According to a company statement, priorities for the next phase include go-to-market support, regulatory licensing, compliance frameworks, and regional partnerships designed to navigate complex legal environments.
“This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel,” said CEO Andrew Rogozov.
“By combining TON blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto.”
TON Ecosystem Grows Alongside High-Profile Blockchain Games
Telegram’s blockchain journey began in 2018, but the TON mainnet only launched in mid-2021. Since then, the ecosystem has expanded rapidly, hosting popular crypto-powered games like Hamster Kombat and Notcoin that rely on the Toncoin token.
Pantera Capital, one of the firms backing this latest raise, highlighted the scale of the opportunity to integrate blockchain and messaging apps.
“We’re thrilled to back this exceptional team led by Andrew,” said Pantera partner Ryan Barney.
“The opportunity to support groundbreaking tech and financial products that reach 1 billion people is inspiring.”
At the time of publication, Toncoin was trading at $2.90, having gained 2.22% over the past 24 hours amid robust daily trading volume exceeding $170 million.
Quick Fact
- The Open Platform raised $28.5 million, lifting its valuation to $1 billion.
- Funds will support global launches, regulatory compliance, and consumer adoption.
- The TON ecosystem continues to grow, anchored by apps and games leveraging Toncoin.
