Worldcoin team led by Sam Altman raises $115m in Series C funding

The Tools for Humanity team, which includes developers of Sam Altman’s Worldcoin startup, raised $115 million in a Series C financing round led by Blockchain Capital.

Congratulations to World App developers @tfh_technology! The growth & success of our contributors is an important part of Worldcoin’s path towards decentralization. https://t.co/i6fWpv68U2

— Worldcoin (@worldcoin) May 25, 2023

Other investors include: Andreessen Horowitz, Bain Capital Crypto and Distributed Global.

According to the company, the funds will help accelerate the development and growth of Worldcoin, as well as a commission-free World App wallet.

“As we enter the AI era, it is crucial that people can preserve their privacy while verifying their identity. At the same time, we guarantee that everyone will be able to reap the financial benefits provided by artificial intelligence technologies,” said Tools for Humanity head Alex Blania.

Earlier reports indicated that OpenAI chief Sam Altman is in ‘preliminary talks’ to raise $100 million for his crypto startup.

In 2021, in an investment round of $25 million for Worldcoin, Andreessen Horowitz, Coinbase Ventures, Digital Currency Group and a group of angel investors, including the founder of FTX Sam Bankman-Fried and LinkedIn cofounder Reid Hoffman, participated.

The core product of Worldcoin is the World ID protocol, based on zero-knowledge proofs. The technology enables verification using iris scans without sacrificing anonymity.

Earlier this May, users in China who did not have access to the application began purchasing biometric data from third parties in African countries to obtain signup bonuses. The company has promised to take the necessary measures to combat the black market.