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July 3, 2025 – The Open Platform (TOP), a pioneering blockchain startup dedicated to powering the Telegram crypto future, today announced it has successfully closed a $28.5 million Series A funding round, achieving a valuation of $1 billion. This significant investment solidifies TOP’s position as a leading force in integrating Web3 technologies into the global messaging giant, Telegram, and marks its official entry into the exclusive unicorn club within the TON-based ecosystem.
The funding round was led by fintech specialist Ribbit Capital, with strong participation from crypto venture capital firm Pantera Capital. This latest injection of capital brings TOP’s total funding raised across multiple rounds to over $70 million, underscoring robust investor confidence in its vision and execution.
"The opportunity to support groundbreaking tech and financial products that reach one billion people is inspiring," stated Ryan Barney, a partner at Pantera Capital, highlighting the immense potential of TOP's initiatives within Telegram's vast user base.
Founded and led by CEO Andrew Rogozov, The Open Platform is the primary developer behind some of the most prominent applications and infrastructure on The Open Network (TON) blockchain, which Telegram has designated as its exclusive blockchain of choice. TOP’s mission is to accelerate Web3 growth by connecting teams with Telegram-native users through strategic integrations and partnerships, offering early-stage funding, and providing expert guidance and powerful tools.
A cornerstone of TOP’s ecosystem is the Wallet in Telegram, which boasts over 100 million users and provides the easiest way to use crypto directly within the messaging app. This integration allows users outside the U.S. and Europe to seamlessly engage with digital assets. The newly secured capital will be instrumental in expanding the Wallet into the U.S. and European markets, addressing crucial compliance and operational requirements.
Beyond the Wallet, TOP offers a comprehensive suite of Web3 tools for builders, including:
- TON API: Robust tools for development on TON.
- TON Connect: An SDK to connect wallets and TON-based applications.
- TAC: Facilitating the deployment of EVM smart contracts on TON.
- TonTech: Providing R&D and audit services for TON smart contracts.
- STON.fi: Enabling crypto swaps within applications in under a week.
- PlayDeck: A toolkit for sharing games with Telegram’s extensive user base.
- Getgems: The main NFT platform on the TON blockchain.
Through its venture arm, TOP Labs, the company actively incubates and invests in Telegram-first projects, fostering a vibrant ecosystem of decentralized applications. TOP Labs currently supports over 25 projects, collectively reaching more than 235 million users. This includes a diverse portfolio ranging from self-custodial wallet platforms like Tonkeeper and swap dApps like STON.Fi, to Web3 gaming toolkits such as PlayDeck and NFT marketplaces like Getgems, alongside innovative ventures in AI and content monetization.
Andrew Rogozov emphasized that the new funds would also be allocated to incubating other TON-based projects, including blockchain games and AI applications, further extending Telegram’s crypto footprint.
Early backers of The Open Platform include Dubai investment firm Vy Capital, Dmitry Eremeev, Kingsway Capital, and Kevin Hu, reflecting a strong foundation of support from both traditional and crypto-native investors.
This Series A funding round and the achievement of unicorn status underscore The Open Platform’s critical role in bridging the gap between Web2 and Web3, making cryptocurrency more accessible and integrated into the daily lives of billions of Telegram users worldwide.
About The Open Platform (TOP)
The Open Platform (TOP) is a leading blockchain startup empowering the Telegram crypto future. As a primary developer on The Open Network (TON) blockchain, TOP provides essential infrastructure, developer tools, and consumer applications, including the widely adopted Wallet in Telegram. Through its expertise, distribution channels, and investment initiatives via TOP Labs, the company accelerates Web3 growth by connecting innovative projects with Telegram’s billion-user ecosystem. TOP is committed to driving global crypto adoption by building intuitive, compliant, and powerful solutions for the decentralized future.
Compiled by CMO Intern team
