Sonic raised $12 million in a Series A funding round led by Bitkraft Ventures, bringing its total funding to $16 million at a $100 million fully diluted valuation.

Jun 18, 2024•over 1 year ago

Amount Raised

$12 Million

Round Type

series a

San FranciscoVideo GamesGaming

Investors

Big Brain HoldingsGalaxy InteractiveBitkraft Ventures

Description

Sonic, a Solana Layer 2 network focused on gaming, has closed a Series A funding round, raising $12 million in equity with token warrants. Bitkraft Ventures led the round, with participation from Galaxy Interactive, Big Brain Holdings, and others, bringing Sonic's total funding to $16 million at a fully diluted valuation of $100 million. As part of the deal, Bitkraft has joined Sonic's board.

Company Information

Company

Sonic

Location

San Francisco, California, United States

About

Sonic is the first Solana Based Gaming Chain created with SVM HyperGrid. It offers full compatibility with EVM Smart Contracts and provides a Native Game Engine, aiming to onboard numerous games and players into the Solana Gaming Ecosystem. Mirror World Introduces Sonic, with its primary goal being to foster the development of games and developers within the Sonic ecosystem. The core functions of Mirror World include providing a development platform for game developers, offering traffic support and effective marketing strategies, and providing funding support for game studios.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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