Beacon, a Web3 accelerator program, has formally launched its fourth and largest cohort, which consists of 17 start-ups from a variety of industries, such as AI infrastructure and DeFi. For the program, which was started by Sandeep Nailwal, a co-founder of Polygon, in 2022, this represents a major expansion.Â
Notable venture capital firms, including a16z, Polychain Capital and Founders Fund, have already backed the chosen start-ups. Several notable players in the expanding Web3 ecosystem are Aligned Layer, EXO, Nubit and Stakestone, each with a distinct area of expertise. Polygon cofounder Sandeep Nailwal was excited about the most recent group of companies, pointing out that they are very diverse and impressive.Â
He underscored Beacon’s dedication to fostering the group’s development as they strive to mold Web3’s future, while highlighting its extraordinary talent. This announcement comes after the success of Beacon’s prior cohort, which included unicorn-status companies like ORA and 0G. Several graduates of the S23 cohort have raised a substantial amount of money.
Two examples are Ethereum L2 solution Fluent, which closed a $7.25 million seed round, and ORA, which raised $20 million in a round led by Polychain Capital. Expectations are high for Beacon’s most recent cohort because some participating companies have impressive track records. Nubit raised $12 million, demonstrating its early traction and potential, while Aligned Layer has already finished a $20 million Series A round.
For those who want to grow, Beacon’s accelerator program provides resources, funding and mentorship. The program keeps establishing itself as a premier Web3 start-up accelerator, with each cohort spotting cutting-edge ideas that could have a long-term influence on the decentralized economy. Over the course of the three-month cohort, the start-ups will closely collaborate with investors and industry experts to refine their strategies and expand their platforms.
