The Open Platform Raises $28.5 Million, Becomes First Unicorn in TON Ecosystem

The Open Platform, a leading tech company developing Web3 innovations in Telegram, has successfully completed its Series A and subsequent extension funding rounds, achieving a $1 billion valuation. This milestone makes The Open Platform the first unicorn in the TON-based ecosystem within Telegram. The Series A funding round raised $28.5 million, led by Ribbit Capital, with participation from Pantera Capital. This investment brings the total funding secured by The Open Platform to over $70 million, reflecting strong investor confidence in the company's ability to drive the growth of the blockchain ecosystem in Telegram.

The Open Platform is focused on expanding its reach across the U.S., EU, and other key regions. The newly raised capital will support the launch of its portfolio companies in these areas, aligning with the global vision of the TON Foundation. This expansion will involve significant investments in go-to-market strategies, regulatory licensing, compliance infrastructure, and security enhancements to ensure sustainable growth and long-term success.

Andrew Rogozov, CEO and Founder of The Open Platform, highlighted the strategic importance of this investment. "This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel. By combining TON Blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto," he said.

The Open Platform is at the forefront of developing the TON-based ecosystem within Telegram, creating both core infrastructure and consumer-facing applications across finance, gaming, and entertainment. Notable products powered by The Open Platform include Wallet in Telegram, a digital asset solution integrated into Telegram’s interface; Tonkeeper, TON’s leading non-custodial crypto wallet; STON.fi, the leading swap dApp on TON; Getgems, TON’s foremost NFT marketplace; Tribute, a monetization platform for creators in Telegram; and Notcoin, a viral Tap-to-Earn game, among others.

By integrating blockchain technology into everyday digital experiences, The Open Platform is creating a seamless, scalable platform designed for a billion users. This initiative aims to accelerate the mainstream adoption of crypto, expand global access to financial services, and enable a new generation of builders and developers to create the next wave of consumer dApps.

The investment from Ribbit Capital and Pantera Capital underscores the potential these investors see in integrating blockchain technology into a messenger application with over a billion users. Micky Malka, Founder of Ribbit Capital, stated, "We back teams that reimagine how the world experiences money and technology. The Open Platform’s vision of building an intuitive and open platform that enables a robust digital ecosystem to form within Telegram opens a new frontier of opportunities for builders and users on a global scale."

Ryan Barney, Partner at Pantera Capital, added, "We’re thrilled to back this exceptional team led by Andrew. The opportunity to support groundbreaking tech and financial products that reach 1 billion people is inspiring. We’re excited to collaborate with the TOP team and strengthen our commitment to TON and Telegram’s ecosystems."

TON Blockchain has garnered increased institutional interest this year. In March, the TON Foundation announced that several leading investors, including Sequoia Capital, Ribbit Capital, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere, and Karatage, have acquired and now hold $400 million worth of Toncoin, signaling growing interest in the TON-based ecosystem in Telegram.