A groundbreaking layer-1 blockchain has successfully secured a nine-figure sum in a series B funding round that included tech titan Samsung and multiple crypto venture capital firms.

In an exciting announcement, decentralized finance (DeFi) blockchain Berachain (BERA) revealed that its recent funding round amassed an astonishing $100 million, with Brevan Howard Digital and Framework Ventures leading the charge.

Some notable companies that participated in the investment round for Berachain include Samsung Next, HashKey Capital, Animoca Ventures, and Nomad Capital.

Berachain co-founder Smokey The Bera, as reported by Bloomberg, expressed his view on the raise, stating, “We see this funding as a significant validation of our approach to constructing a blockchain that is based on feedback from real users and developers, while also driving value to those who are actively contributing to the network’s growth.”

According to Berachain’s website, the blockchain is designed to have some compatibility with Ethereum (ETH) smart contracts and tools. However, it cannot fully replicate the Ethereum Virtual Machine (EVM) environment.

“[Berachain] provides a certain level of compatibility [with ETH], making it easier to migrate applications and assets. EVM-compatible chains may support Ethereum’s smart contract languages and tools to some extent, but there may be variations in functionality, performance, or security features… Berachain is an EVM-compatible layer-1 blockchain built on top of the Cosmos-SDK (software development kit) that supports all the same tooling and operations, while also incorporating additional functionality that optimizes for proof-of-liquidity and typical abstracted use-cases (decentralized exchanges, Oracles, etc).”

The blockchain will consist of three assets – the BERA token, which will be used for transactions on the chain; the BGT token, which will serve as the governance coin; and HONEY, the protocol’s collateralized stablecoin.

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