BlockBeats News, April 8, the crypto restaurant app Blackbird announced the completion of a $50 million Series B funding round, led by Spark Capital, with participation from Coinbase, a16z crypto, Union Square Ventures, and Amex Ventures.
This funding round includes both equity in the company and token warrants, which are allocations of a not-yet-issued cryptocurrency. Blackbird co-founder Levinthal stated that this funding was raised in the fourth quarter of 2024, but he refused to disclose the implied valuation of this round. Since 2022, Blackbird Labs has raised a total of $85 million.
Blackbird is a loyalty and payment application for restaurants. Each time a user visits a restaurant registered with the app, they receive an internal cryptocurrency, FLY, as a reward. Users can use this cryptocurrency to pay for meals anywhere within the Blackbird network, which covers over 600 restaurants in New York City, San Francisco, and Charleston, South Carolina. Levinthal stated: "We aim to enter major U.S. cities."
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