Sam Altman’s identity verification crypto project has just landed a huge new infusion of cash. And some of the biggest venture capital funds in the world are behind it.
What’s happening:
- World has raised $135M USD in a new financing round
- The new funding round was led by a16z and Bain Capital Crypto
Why it matters:
- World has quickly become one of the most disruptive companies focused on identity verification technology, with more than 26M individual users across 160 different countries globally
Going deeper:
- The new funding round was done through a direct investment into Worldcoin tokens
- World has publicly stated that the new infusion of capital will specifically go towards expanding the distribution of their Orb iris scanning hardware in the United States
The intrigue:
- World just recently made waves when they launched their Orbs for the first time ever in major cities in America, rolling out identity verification hardware in Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco
The fine print:
- World has continued to face continued regulatory challenges with their Orb hardware in multiple countries, including formal suspensions in Indonesia and an ongoing legal dispute in Kenya over the potential misuse of biometric data
