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- Mina
Mina Funding, Investors & Competitors
Mina has raised $45M across 3 funding rounds, most recently a $19M ico round in May 2021.
Last Mina funding round
$19M
ICO · May 2021
Cumulative funding Mina raised
$45M
across 3 funding rounds
Key investors in Mina
General Catalyst
Coinbase Ventures
Accomplice
Paradigm
Three Arrows Capital
Bixin Ventures
Redline DAO
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 $45M across 3 funding rounds.
Mina's first fundraising round was a $15M Series A in April 2019. The most recent completed round was a $19M ico round in May 2021.
Mina funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| 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?
7 investors have backed Mina across its funding rounds, including General Catalyst, Coinbase Ventures, Accomplice, Paradigm, Three Arrows Capital and Bixin Ventures.
Lead investors include Bixin Ventures and Three Arrows Capital.
Mina Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Lead | Oct 2020 | ||
This data is available for Pro users. Sign up to see all 7 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 and Snowflake, and private ones like Socure, Anthropic, OpenAI and Databricks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $315M | - | $5.2B | - | ||
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $41B | $13B | $273B | 6.1x | ||
| Private | $7B | - | $190B | 27.1x | ||
| Publicly listed | $4.7B | ($1.3B) | $97B | 16.4x |
Mina Public Comps
Mina is still privately-owned, but its public comps include SAP, IBM, CrowdStrike, Salesforce, ServiceNow, Snowflake, Adobe, Moody's, Datadog and Strategy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $41B | $13B | 6.6x | 6.1x | 20.9x | 19.0x | |||
| $68B | $17B | 4.3x | 4.1x | 17.3x | 14.5x | |||
| $4.8B | ($12M) | 45.3x | 38.0x | (17454.4x) | 127.1x | |||
| $42B | $13B | 5.0x | 4.6x | 15.9x | 10.8x | |||
| $13B | $2.6B | 8.3x | 6.9x | 42.6x | 17.8x | |||
| $4.7B | ($1.3B) | 20.9x | 16.4x | (76.7x) | 93.1x | |||
| $24B | $9.3B | 4.0x | 3.6x | 10.2x | 7.4x | |||
| $7.7B | $3.8B | 12.1x | 11.4x | 24.4x | 21.8x | |||
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 $45M across 3 funding rounds. |
| What was Mina's last funding round? | Mina's last funding round was a $19M ico round in May 2021. |
| Who are Mina's investors? | Mina's investors include General Catalyst, Accomplice, Coinbase Ventures, Redline DAO, Three Arrows Capital, Bixin Ventures and Paradigm. |
| Which companies are comparable to Mina? | Companies comparable to Mina include Socure, Anthropic, OpenAI, SAP, Databricks and Snowflake. |
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