Hillrise Ventures Announces Investment in DoraHacks

March 16, 2023–2 min read.

Hillrise Ventures today announces an investment into DoraHacks — a global hackathon organizer and host to one of the world’s most active Web3 developer communities. Hillrise Ventures is the private investment arm of Hillrise Group.

DoraHacks was founded in 2014 as a humble hacker organization with roots in Asia. Their focus was clear in supporting the developer community and open-source movement from day one.

By 2018, DoraHacks refined their focus on the nascent but thriving Web3 space and began hosting curated global hackathons. In retrospect, they have been instrumental in supporting many of the industry’s biggest and best startups from their earliest days.

Since then, DoraHacks has partnered with 80+ Web3 ecosystems (including BNB Chain, Ethereum, Aptos, Solana, Filecoin, Cardano, Flow, Polygon, and Avalanche), reached more than 500,000 hackers worldwide, and hosted over 300 in-person hackathons across 15 cities and 8 countries. More than 3,000 startups have received over $30 million in grants and hackathon prizes.

Today they are recognized as a global crypto-native innovator, supporting the developers of today to create the infrastructure, tools, products, and ecosystems of tomorrow.

Last year DoraHacks raised $8 million led by Binance Labs, followed by a further $20 million round in 2022. Over the past 18 months funding in DoraHacks core infrastructure is nearing $50 million.

The company will utilize this funding in part to introduce new initiatives including the Dora Grant DAO and Dora Infinite Fund.

Hillrise Ventures joins a group of industry leading partners including Binance Labs, Circle Ventures, Crypto.com Capital, Liberty City Ventures, Gemini Frontier Fund, Sky 9 Capital, Emurgo Ventures, and more.

“DoraHacks is fortunate to work with many partners from around the globe. The team at Hillrise Group show a great level of expertise within the industry and are able to help us support early stage founders and developers contributing to the further advancement of Web3 as a whole. We look forward to our long term partnership with Hillrise.”

Steve Ngok, Partner at DoraHacks