Cosmos Reaches Milestone as Blockchain Developer Launches $150M Accelerator

Ignite, formerly Tendermint, has inked 11 investment partners to fund “the next wave of revolutionary early-stage startups in Web3”

article-image

Blockworks exclusive art by Axel Rangel

share

key takeaways

  • Ignite Accelerator will focus on the multichain ecosystem, part of the core ethos of Cosmos
  • Initial strategic partners are Alameda Research, KuCoin Ventures, OKX, Blockdream Ventures, Hashkey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake and Galileo

A new fund with an initial commitment of $150 million aims to accelerate the time to market of early-stage blockchain interoperability projects. 

The funding comes on the heels of the Theta upgrade to the Cosmos Hub, the first of two major updates to enable interchain accounts, which is a key component of Ignite’s vision for multichain interoperability.

The fund, called Ignite Accelerator, “ensures that individuals who would like to be part of building an open and decentralized global future are set up for success,” Ignite CEO Peng Zhong said in a statement.

Ignite’s forerunner, Tendermint Inc., founded the Cosmos blockchain and still plays an active role in the now-community-led ecosystem. 

After the next scheduled upgrade, Rho, the Cosmos Hub will be able to manage accounts across multiple blockchains. That opens up the design space for Web3 applications for the first time. For instance, custody providers will be able to service accounts on other IBC-connected blockchains through a common interface on the Cosmos Hub.

The Ignite Accelerator aims to support up to 20 projects per year with semiannual cohorts of six months, the first slated for June. Successful applicants stand to gain access to capital, but also “hands-on guidance in key areas like blockchain development, marketing, [public relations] and tokenomics,” the statement said.

This practical guidance is a part of the package pitched by the project’s backers — industry heavyweights and experienced validators of Tendermint-based blockchains — Alameda Research, KuCoin Ventures, OKX Blockdream Ventures, Hashkey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake and Galileo.

“As best-in-class investors, they share our vision and hold valuable experience in partnering closely with entrepreneurs and developers,” Sane Lebrun, Ignite’s chief growth officer, said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

LayerZero’s Bryan Pellegrino chatted with Blockworks about the firm’s next steps and its 10-year runway

article-image

Colosseum co-founder Matty Taylor is seeing “high-performance [Solana] founders showing a lot of interest in private trading technology”

article-image

Executives weigh the growth potential they see in the public stock and private credit/equities arenas

article-image

Players can stake ME, trade tokens and link wallets to climb the leaderboard