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- DeSci startup VitaDAO has raised $4.1 million for longevity analysis.
- The traders embody Coinbase CTO Balaji Srinivasan and Pfizer Ventures.
- Ethereum co-founder Vitalik Buterin beforehand invested in VitaDAO.
Decentralized Science (DeSci) startup VitaDAO has raised $4.1 million in a funding spherical that noticed participation from Retro Biosciences CEO Joe Betts-LaCroix, Coinbase CTO Balaji Srinivasan, and the enterprise funding arm of pharmaceutical large Pfizer. Shine Capital, L1 Digital, and fellow DeSci outfits SpaceshipDAO and BeakerDAO additionally invested within the newest spherical.
Based on a current report, Pfizer has additionally been part of VitaDAO’s governance proposals and has performed a job in creating the DAO’s initiatives. “We’re excited to not solely spend money on but in addition actively take part in VitaDAO to discover this novel mannequin to advance early-stage science,” mentioned Michael Baran, Govt Director of Pfizer Ventures.
The funding secured on this funding spherical won’t solely fund the DAO’s longevity analysis but in addition assist construct its first biotech startup, which will likely be introduced by March 2023. The DAO additionally plans to spend money on the business-facing facets by commercializing and licensing its mental property.
The event of blockchain and web3 has launched new ideas like decentralized finance (DeFi) and decentralized governance within the type of DAOs. Decentralized Science (DeSci) is a relatively newer idea that’s taking up the way in which we work together with biology and open science. VitaDAO is without doubt one of the decentralized autonomous organizations that has benefitted from the momentum behind DeSci.
VitaDAO was arrange in 2021 by Molecule, a decentralized biotech protocol. Its analysis and operations revolve round longevity i.e. extension of human life. Molecule has seeded different DAOs within the biotech and medical sector, together with AthenaDAO, which revolves round girls’s well being analysis. VitaDAO’s native token VITA skyrocketed over 50% following the multimillion-dollar funding spherical. The token is at present buying and selling at $1.71.