Oak Grove Ventures invests $5M in DuckChain to advance blockchain innovation

December 30, 2024 at 9:12 am

Edited by Dorian Batycka

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Oak Grove Ventures invests $5M in DuckChain to advance blockchain innovation

DuckChain’s goal of enabling decentralized apps within the Telegram ecosystem is supported by the $5 million investment from Oak Grove Ventures.

Oak Grove Ventures has publicly disclosed a $5 million investment in DuckChain, an innovative blockchain platform that utilizes TON-based EVM solutions. Several well-known companies, including dao5, Tandem by Offchain Labs, Kenetic Capital, DWF Ventures, Skyland Ventures, and angel investors from leading projects like Camelot and Quantstamp, also contributed to this fundraising round.

We’re thrilled to announce our investment in @Duck_Chain, a groundbreaking #blockchain platform leveraging #TON-based EVM solutions to integrate seamlessly with Telegram’s ecosystem.

By joining DuckChain’s $5M funding round, we aim to empower its mission to unlock the #Web3… pic.twitter.com/yJEBBH5M5E
— Oak Grove Ventures (@OakGroveVC) December 30, 2024

With DuckChain’s seamless integration into Telegram’s ecosystem, developers can create decentralized apps that meet the demands of more than 30 million active Telegram users. DuckChain seeks to leverage Telegram’s large user base’s blockchain potential by utilizing a TON-based EVM solution, offering scalable solutions that bridge Web2 and Web3.

Oak Grove Ventures’ decision to invest in DuckChain aligns with the company’s commitment to promoting innovative blockchain technology. Due to its unique interaction with Telegram, DuckChain is positioned as a key participant in the adoption of blockchain technology, making it easier for developers and consumers to transition to the Web3 era. According to Oak Grove Ventures, this investment is a strategic step to help DuckChain make significant progress in decentralized applications.

Web3, AI, and biotechnology are just a few of the modern industries in which Oak Grove Ventures specializes in early-stage investments. With offices in major international locations including Silicon Valley, Singapore, Hong Kong, and Tokyo, Oak Grove Ventures is an expert at spotting and supporting potential startups and entrepreneurs in their infancy.

The company’s commitment to supporting initiatives that push the limits of blockchain technology has taken a major step forward with its investment in DuckChain. According to Oak Grove Ventures, the broader adoption of decentralized apps will be largely dependent on DuckChain’s vision and its smooth integration with Telegram’s platform.