Web3 Hackathon Incubator DoraHacks Nabs $20M From FTX, Liberty City

The fresh injection of capital will go to further the platform’s offerings, including a developer fund and a DAO for Web3 community grants

article-image

Blockworks exclusive art by axel rangel

share
  • FTX Ventures and Liberty City Ventures led the round, banking on DoraHacks’ capacity to facilitate funding in Web3 startups
  • Total funding to date for Dora has reached almost $50 million since its inception in late 2020

Crypto Web3 developer incentive platform DoraHacks has raised tens of millions of dollars in fresh funding from some of the industry’s largest investment arms.

According to a press release on Wednesday, the platform has picked up $20 million in a Series B1 funding round aiming to accelerate its offerings, including its decentralized autonomous organization, Dora Grant DAO, which launched earlier this year.

The investment, led by FTX Ventures and Liberty City Ventures, will also go toward Dora’s Infinite Fund which aims to pour money into “disruptive ideas” in fintech. The fund is slated for sometime later in the year via a non-fungible token (NFT) drop, Dora said.

Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital and Amber Group also participated in the round.

The funding follows on the heels of an $8 million strategic round led by Binance Labs last year. The platform also picked up a further $20 million raise for its DAO-as-a-service incubator. Total funding to date for the budding ecosystem has reached nearly $50 million, per the release.

DoraHacks’ platform supports and curates Web3 startups via hackathons – an event for programmers, designers and others to collaborate on projects. The platform said it has raised $25 million worth of grants for more than 2000 startups since its inception, per the release.

More than 40 Web3 ecosystems including the likes of Solana, Polygon and Avalanche have adopted DoraHacks as a “core partner” in hackathons and community grant programs, providing access to the global developer community, Dora said.

“DoraHacks is key to advancing the development of the infrastructure for Web3,” Liberty City Ventures partner Emil Woods said. “We expect increased engagement with our portfolio companies as the ecosystem grows.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

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.

recent research

Unlocked by Template (11).png

Research

Union’s technical design brings measured improvements to crosschain interoperability. By combining a consensus-verified hub with novel constructs like state lenses and ZK proofs for client updates, Union achieves an interoperability protocol that is highly performant, trust-minimized, and scalable.

article-image

Singapore’s largest bank is issuing crypto-linked structured notes on Ethereum, but the tokens will remain permissioned

article-image

Jupiter borrows Fluid’s innovative risk engine

article-image

Exchange says all validators now run in distributed clusters, boosting decentralization and fault tolerance

article-image

Retail FOMO is back, with CEX onboarding and search terms up

article-image

The stablecoin payments processor previously raised from the likes of a16z Crypto and Archetype