TON builder The Open Platform raises $28.5 million, reaches $1 billion valuation in extended Series A

The Open Platform (TOP), a venture builder and accelerator focused on supporting decentralized applications and blockchain projects in the TON blockchain ecosystem, has secured $28.5 million in an extended Series A funding round.

The raise boosts TOP’s valuation to $1 billion, making it one of the TON-focused startups to secure unicorn status.

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Led by Ribbit Capital and joined by Pantera Capital, the raise gives investors around 5% equity in the company. No tokens were issued as part of the round, said TOP CEO Andrew Rogozov. The Abu Dhabi–based company has now raised over $70 million to date.

TOP is the main builder behind Wallet in Telegram, the integrated crypto wallet for Telegram’s officially endorsed blockchain.

The fresh capital will support the firm’s wallet expansion efforts in the US, EU, and other regions, with a focus on go-to-market strategies, regulatory licensing, compliance, and infrastructure development. The wallet is already live in regions like Russia and Asia.

The new fund will also be used to incubate other TON-based projects, including blockchain games and AI applications.

“This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel,” said Rogozov in a statement. “By combining TON blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto.”