# Analog funding: rounds and investors > Analog has raised $20M across 2 rounds since 2025. Investors include GSR, Tribe Capital and NGC Ventures. Every round with its source. Source: https://millionrounds.com/company/analog (Millionrounds; every figure on the page links to its filing or article) United States · [Token sale startup](https://millionrounds.com/companies) # Who invested in *Analog* 2 rounds we have observed, with the 11 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Web3 & Crypto Follow Analog and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fanalog) Funding summary Updated 5 Nov 2026 **$20M** raised across 2 rounds since 2025, from 2 sources **$5.0M** Round **$15M** Token sale - **Latest round:** Token sale, $15M Apr 2025 - **Step-up i:** 3× - **Investors:** 11 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 **$5.0M** Round **$15M** Token sale - **First round:** Round, $5.0M - **Biggest round:** $15M - **Between rounds:** 2 months ## The rounds - **Apr 2025** Token sale **$15M** *1 new* *3 returning* [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [GSR](https://millionrounds.com/fund/gsr) [Tribe Capital](https://millionrounds.com/fund/tribe-capital) [NGC Ventures](https://millionrounds.com/fund/ngc-ventures) Source recorded - **Jan 2025** Round **$5.0M** *10 new* [GSR](https://millionrounds.com/fund/gsr) [Tribe Capital](https://millionrounds.com/fund/tribe-capital) [NGC Ventures](https://millionrounds.com/fund/ngc-ventures) [Balaji Srinivasan](https://millionrounds.com/fund/balaji-srinivasan) [Mask Network](https://millionrounds.com/fund/mask-network) [Foresight Ventures](https://millionrounds.com/fund/foresight-ventures) [Wintermute Ventures](https://millionrounds.com/fund/wintermute-ventures) [NEAR Foundation](https://millionrounds.com/fund/near-foundation) [Contango Digital Assets](https://millionrounds.com/fund/contango-digital-assets) [Outliers Fund](https://millionrounds.com/fund/outliers-fund) Reported by TechStartups SEC filing: $237K sold, first sale Jan 2025 ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2025 **Token sale** 2025 [GSR](https://millionrounds.com/fund/gsr) [Tribe Capital](https://millionrounds.com/fund/tribe-capital) [NGC Ventures](https://millionrounds.com/fund/ngc-ventures) [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [Balaji Srinivasan](https://millionrounds.com/fund/balaji-srinivasan) [Mask Network](https://millionrounds.com/fund/mask-network) [Foresight Ventures](https://millionrounds.com/fund/foresight-ventures) [Wintermute Ventures](https://millionrounds.com/fund/wintermute-ventures) [NEAR Foundation](https://millionrounds.com/fund/near-foundation) [Contango Digital Assets](https://millionrounds.com/fund/contango-digital-assets) ## Everyone who backed them [GSR](https://millionrounds.com/fund/gsr) VC firm **2** rounds [Tribe Capital](https://millionrounds.com/fund/tribe-capital) VC firm **2** rounds [NGC Ventures](https://millionrounds.com/fund/ngc-ventures) VC firm **2** rounds [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) VC firm **1** round [Balaji Srinivasan](https://millionrounds.com/fund/balaji-srinivasan) VC firm **1** round [Mask Network](https://millionrounds.com/fund/mask-network) Corporate VC **1** round [Foresight Ventures](https://millionrounds.com/fund/foresight-ventures) Accelerator **1** round [Wintermute Ventures](https://millionrounds.com/fund/wintermute-ventures) VC firm **1** round [NEAR Foundation](https://millionrounds.com/fund/near-foundation) Private equity **1** round [Contango Digital Assets](https://millionrounds.com/fund/contango-digital-assets) VC firm **1** round [Outliers Fund](https://millionrounds.com/fund/outliers-fund) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=analog). ## Also claim to have backed them These 7 firms list Analog as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Andromeda Capital](https://millionrounds.com/fund/andromeda-capital) VC firm Per its own site [Varys Capital](https://millionrounds.com/fund/varys-capital) VC firm Per its own site [Better Capital](https://millionrounds.com/fund/better-capital-2) VC firm Per its own site [Dewhales Capital](https://millionrounds.com/fund/dewhales-capital) VC firm Per its own site [NEXYR](https://millionrounds.com/fund/nexyr) VC firm Per its own site [NextFlex](https://millionrounds.com/fund/nextflex) Investment firm Per its own site [TPC Club](https://millionrounds.com/fund/tpc-club) Angel network Per its own site ## Quick answers about Analog ### Who invested in Analog? Analog's investors include GSR, Tribe Capital, NGC Ventures, Alumni Ventures and Balaji Srinivasan, and 6 more on record. ### How much has Analog raised? Analog has raised $20M across 2 rounds since 2025. ### When did Analog last raise? Analog's most recent round was a Token sale of $15M in Apr 2025. ### What was Analog's biggest round? Its most recent round, $15M in Apr 2025, is also its largest on record. ### Who backed Analog first? Analog's first round on record, in Jan 2025, was backed by GSR, Tribe Capital and NGC Ventures and 7 others. ### What stage is Analog at? Analog's latest named round is a Token sale, in Apr 2025. ### Where is Analog based? Analog is based in the United States. ## Companies like Analog In the same sector, and raised in the last eighteen months. [**Omni** $244M · Nov 2026](https://millionrounds.com/company/omni)[**Predicate** $16M · Oct 2026](https://millionrounds.com/company/predicate)[**Erebor** $380M · Oct 2026](https://millionrounds.com/company/erebor)[**Parasol** $4.8M · Oct 2026](https://millionrounds.com/company/parasol)[**iQSTEL** $4.0M · Oct 2026](https://millionrounds.com/company/iqstel)[**Kalshi** $3.7B · Oct 2026](https://millionrounds.com/company/kalshi) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app