Worldcoin Raises $135 Million for US Expansion

Worldcoin, the iris-scanning identity verification project founded by Sam Altman, has successfully raised $135 million through the sale of WLD tokens to a16z and Bain Capital Crypto. This significant investment will be used to expand the company's biometric data collection operations in the US, where it has recently opened eye-scanning infrastructure in six cities with plans for further expansion.

The funds were raised through a direct purchase of WLD tokens, which are liquid and market-priced. This investment comes from two of Worldcoin's earliest backers and long-term holders, a16z and Bain Capital Crypto. The transaction was not a traditional venture round but a direct purchase of non-discounted liquid tokens. This investment has led to a noticeable increase in the circulating supply of WLD tokens, which is visible in publicly available price data.

Worldcoin's recent expansion in the US includes the establishment of physical infrastructure for eye-scanning in multiple cities. The company plans to continue this growth, leveraging the $135 million investment to enhance its user network, physical infrastructure, and the broader possibilities of AI technology. The funds will also support the growth of the WLD token's circulation and prominence in the market.

In addition to a16z and Bain Capital Crypto, Worldcoin also mentioned other funders, including Selini Capital, Mirana Ventures, and Arctic Digital. These entities participated in a traditional funding round that did not involve WLD tokens. The company did not make any other specific commitments regarding the $135 million investment but discussed the growth of its user network, physical infrastructure, and the possibilities of AI technology more broadly.

This major investment could be a much-needed win for Worldcoin, which faced regulatory challenges in Germany last December. The company also experienced a spike in WLD token value due to rumors of integration with OpenAI's social media platform, although these rumors did not materialize. Despite these challenges, Worldcoin continues to expand its operations and strengthen its position in the market.