Observed Signal · May 26, 2023 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Neutral
Worldcoin Raises $115M for Biometric Identity Network
Worldcoin, the controversial cryptocurrency and biometric identity project co-founded by Sam Altman, has raised $115 million in a Series C round for its operating company Tools For Humanity (TFH), which is based in Erlangen, Germany and San Francisco. Investors include Blockchain Capital, Andreessen Horowitz, Bain Capital Crypto, and Distributed Global. Worldcoin aims to build the world's largest inclusive identity and financial network, using 'Orb' devices that scan users' irises, faces, and body temperature to issue World ID credentials, which in turn grant access to the WLD token payment network. Around 1.7 million people have already registered at Orb devices in cities including Berlin, Dubai, London, and Seoul. The company, with roughly 150 employees, plans to expand its Orb rollout globally, working with electronics maker Jabil for hardware and building on Ethereum infrastructure like Polygon, Optimism, Uniswap, and Circle's USDC.
Worldcoin's $115M Series C and biometric identity network expansion signal growing investment in alternative identity infrastructure, relevant to the AdTech ecosystem's transition away from third-party cookies.
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Key Takeaways & Evidence Grounding
- Worldcoin raised $115 million in a Series C round for Tools For Humanity.
- Investors include Blockchain Capital, Andreessen Horowitz, Bain Capital Crypto, and Distributed Global.
- Worldcoin's Orb devices scan iris, face, and body temperature to create biometric identities.
- Approximately 1.7 million people have registered at Orb devices so far.
- The project relies on Ethereum ecosystem tools including Polygon, Optimism, Uniswap, and Circle's USDC.
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