Beacon Expands with Ten New Startups in Third Cohort
Sandeep Nailwal, co-founder of Polygon, has announced that Beacon, the web3 startup accelerator he launched, has welcomed ten new startups into its third cohort. The graduating startups had their demo day today, where they presented their pitches to investors. Beacon operates two sessions per year and this is its third batch since its inception in January 2023. Nailwal expressed his excitement about the milestone, stating that Beacon has accelerated 33 startups, grown its investor network to over 500, and collectively raised more than $150 million.
Beacon is a part of Symbolic Capital, Nailwal’s crypto venture firm, and it provides mentorship and financing to early-stage startups. The accelerator boasts an impressive lineup of mentors including Neil Cunha-Gomes from SoftBank, Dan Kim from Coinbase, Sreeram Kannan from EigenLayer, and Paul Veradittakit from Pantera Capital. Nailwal believes that the latest cohort will produce multiple unicorns.
Introducing Beacon Cohort F23
The ten startups in the third cohort of Beacon are Zero Gravity, Range Protocol, Fraction AI, Sending Labs, Fluent, Mizu, Maru, Moso, Inco Network, and HyperOracle. These startups cover various aspects of web3 technology such as infrastructure development, DeFi asset management protocols, human-powered data labeling platforms for AI training models, communications platforms, Ethereum Layer 2 development, crypto payments platforms, blockchain scaling infrastructure development, crypto rewards providers, Layer 1 blockchain development, and redefining smart contracts for AI-powered blockchains.
With the third cohort graduating from Beacon’s program, the accelerator is now preparing for its fourth cohort (S24) which is set to launch in the coming days. Applications for S24 will be open for approximately two months, and the selection process will include interviews to choose the new cohort. The program is expected to commence in May and continue until late August. Beacon receives over 1,000 applications for each cohort and selects 10 to 20 startups after multiple rounds of interviews.
Hot Take: Beacon Continues to Nurture Web3 Startups
Beacon, the web3 startup accelerator founded by Sandeep Nailwal, has reached a significant milestone with its third cohort of ten graduating startups. With a strong network of mentors and an impressive track record, Beacon has become a key player in supporting early-stage startups in the crypto space. The expansion of Beacon’s portfolio reflects the growing interest and potential of web3 technology. As the program prepares to launch its fourth cohort, it is clear that Beacon is committed to nurturing and empowering the next generation of web3 unicorns. The success stories from previous cohorts demonstrate the value and impact of Beacon’s mentorship and financing on the growth and success of these startups.
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