- DeSci startup VitaDAO has raised $4.1 million for longevity research.
- The investors include Coinbase CTO Balaji Srinivasan and Pfizer Ventures.
- Ethereum co-founder Vitalik Buterin previously invested in VitaDAO.
Decentralized Science (DeSci) startup VitaDAO has raised $4.1 million in a funding round that saw participation from Retro Biosciences CEO Joe Betts-LaCroix, Coinbase CTO Balaji Srinivasan, and the venture investment arm of pharmaceutical giant Pfizer. Shine Capital, L1 Digital, and fellow DeSci outfits SpaceshipDAO and BeakerDAO also invested in the latest round.
According to a recent report, Pfizer has also been a part of VitaDAO’s governance proposals and has played a role in developing the DAO’s projects. “We are excited to not only invest in but also actively participate in VitaDAO to explore this novel model to advance early-stage science,” said Michael Baran, Executive Director of Pfizer Ventures.
The investment secured in this funding round will not only fund the DAO’s longevity research but also help build its first biotech startup, which will be announced by March 2023. The DAO also plans to invest in the business-facing aspects by commercializing and licensing its intellectual property.
The development of blockchain and web3 has introduced new concepts like decentralized finance (DeFi) and decentralized governance in the form of DAOs. Decentralized Science (DeSci) is a comparatively newer concept that is taking on the way we interact with biology and open science. VitaDAO is one of the decentralized autonomous organizations that has benefitted from the momentum behind DeSci.
VitaDAO was set up in 2021 by Molecule, a decentralized biotech protocol. Its research and operations revolve around longevity i.e. extension of human life. Molecule has seeded other DAOs in the biotech and medical sector, including AthenaDAO, which revolves around women’s health research. VitaDAO’s native token VITA skyrocketed over 50% following the multimillion-dollar funding round. The token is currently trading at $1.71.
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