Graph Foundation Raises $50 Million in Round Led by Tiger
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The Graph Foundation, which operates a protocol for indexing and querying blockchain data, raised $50 million in a sale of digital tokens to investors led by Tiger Global Management and will use the proceeds to make grants to other developers and expand in Asia and Europe.
The Graph Foundation sold its own token, called The Graph, to investors including Tiger, FinTech Collective and Fenbushi Capital, according to an e-mailed statement. The coin has lost 18% in the past week amid a broad cryptocurrency retreat, giving it a market value of $2.5 billion, according to data from CoinGecko.