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- Mina
Mina Funding, Investors & Competitors
Mina has raised $137M across 4 funding rounds, most recently a $92M ico round in March 2022.
Last Mina funding round
$92M
ICO · Mar 2022
Cumulative funding Mina raised
$137M
across 4 funding rounds
Key investors in Mina
Three Arrows Capital
General Catalyst
Coinbase Ventures
Accomplice
Pantera Capital
Paradigm
Amber Group
Circle Ventures
About Mina
Mina is the team behind the Mina Protocol, a lightweight blockchain using recursive zero-knowledge proofs to enable verifiable computations without expanding chain size. San Francisco-headquartered, Mina facilitates decentralized applications in privacy-focused DeFi, identity, and payments. The protocol supports Snapps, zk-powered smart contracts executed off-chain. Mina operates nodes worldwide and integrates with wallets like Coinbase Wallet for seamless user access to its ecosystem.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Subscription
Mina Funding History
Mina has raised a total of $137M across 4 funding rounds.
Mina's first fundraising round was a $15M Series A in April 2019. The most recent completed round was a $92M ico round in March 2022.
Mina funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2022 | ICO | FTX Ventures (lead); Three Arrows Capital (lead); To Kenz Capital; Pantera Capital; Brevan Howard Asset Management; Blockchain.com; Finality Capital Partners; Crowd Venture Capital; Amber Group; Circle Ventures; Alan Howard | $92M | - |
| May 2021 | ICO | - | $19M | - |
| Oct 2020 | Series A | Bixin Ventures (lead); Three Arrows Capital (lead) | $11M | Mina Protocol, developed by O(1) Labs (formerly Coda Protocol), is a lightweight blockchain project focused on zero-knowledge proofs to enable a succinct blockchain that remains constant size regardless of transaction volume. On October 21, 2020, it raised $10.9 million in a funding round co-led by Bixin Ventures and Three Arrows Capital, with participation from NGC Ventures, Fenbushi Capital, and others. This strategic round supported the development of Mina's privacy-focused public chain, emphasizing decentralization through reduced node computing requirements. The funding contributed to Mina's total raised exceeding $100 million across rounds, including a later $92 million ecosystem raise on March 17, 2022, led by FTX Ventures and Three Arrows Capital with additional investors like Alan Howard, Amber Group, and Pantera. Mina positions itself as a security layer for Web3, leveraging zero-knowledge smart contracts for user privacy and end-to-end security. |
| Apr 2019 | Series A | General Catalyst; Accomplice; Coinbase Ventures; Redline DAO; Paradigm | $15M | Mina Protocol (formerly Coda Protocol) is a blockchain project described as the world's lightest blockchain, creating a private gateway between the real world and crypto. In April 2019, Mina raised $15 million in a Series A funding round from prominent investors including Accomplice, Coinbase Ventures, General Catalyst, Paradigm, and Redline DAO. Subsequent funding rounds occurred in October 2020 ($10.9M strategic), April 2021 ($18.75M public sale), and March 2022 ($92M strategic), bringing total disclosed fundraising to approximately $140.15M across multiple rounds. |
Who has invested in Mina?
17 investors have backed Mina across its funding rounds, including Three Arrows Capital, General Catalyst, Coinbase Ventures, Accomplice, Pantera Capital and Paradigm.
Lead investors include FTX Ventures, Three Arrows Capital and Bixin Ventures.
Mina Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Lead | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
This data is available for Pro users. Sign up to see all 17 Mina investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialMina Competitors
Mina competitors include listed companies like SAP, Snowflake and Nebius Group, and private ones like Anthropic, OpenAI and Databricks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Private | $7B | - | $190B | 27.1x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | ||
| Publicly listed | $530M | $512M | $59B | 24.2x |
Mina Public Comps
Mina is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's, Nebius Group and Strategy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $24B | $9.3B | 4.3x | 3.9x | 10.9x | 8.2x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
This data is available for Pro users. Sign up to see all Mina competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mina
| When was Mina founded? | Mina was founded in 2017. |
| Where is Mina headquartered? | Mina is headquartered in San Francisco, CA, United States. |
| Is Mina publicly listed? | No, Mina is a private, VC-backed company. |
| How much funding has Mina raised? | Mina has raised $137M across 4 funding rounds. |
| What was Mina's last funding round? | Mina's last funding round was a $92M ico round in March 2022, led by FTX Ventures and Three Arrows Capital. |
| Who are Mina's investors? | Mina's investors include Three Arrows Capital, To Kenz Capital, General Catalyst, Accomplice, Pantera Capital, Brevan Howard Asset Management, Blockchain.com, Coinbase Ventures, Finality Capital Partners, Crowd Venture Capital and 7 others. |
| Which companies are comparable to Mina? | Companies comparable to Mina include Anthropic, OpenAI, SAP, Databricks, Snowflake and Nebius Group. |
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