Telegram Wallet Developer TOP Raises $28.5M at $1B Valuation
The Open Platform, creator of Telegram Wallet, raises $28.5M to expand into global markets and build blockchain games and AI apps.
- TOP raises $28.5M in Series A at a $1B valuation.
- Funding led by Ribbit and Pantera, with no crypto allocation.
- Expansion plans include U.S., Europe, AI, and blockchain gaming.
The Open Platform (TOP), the main developer behind Telegram’s blockchain wallet, has raised $28.5 million in a Series A funding round. The raise pegs TOP’s valuation at an impressive $1 billion, signaling strong confidence in the platform’s vision and future.
This funding round was led by Ribbit Capital and included contributions from crypto heavyweight Pantera Capital. Interestingly, the investment came via a 5% equity offering with no cryptocurrency involved, highlighting a traditional approach to backing a blockchain initiative.
Expansion and Innovation Plans
TOP has ambitious plans for its fresh capital. The Telegram Wallet developer aims to expand its presence in the U.S. and European markets. With Telegram’s massive user base as a foundation, this move could significantly increase mainstream adoption of its blockchain products.
In addition to market expansion, TOP is also setting its sights on emerging tech. The company plans to incubate new projects in blockchain gaming and artificial intelligence—two of the fastest-growing sectors in tech. These initiatives could further cement TOP’s position as a key player in the decentralized application ecosystem.
TON Ecosystem Gains Momentum
As the primary developer within the TON (The Open Network) blockchain ecosystem, TOP is strategically positioned to lead Telegram’s crypto push. The Telegram Wallet, which TOP maintains, is central to this ecosystem, enabling seamless crypto transactions for millions of users globally.
With strong investor backing and a clear roadmap, TOP is well-equipped to expand both its user base and technological reach in the coming years.
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