Blackbird Labs completes a $50 million Series B financing, with Coinbase and others participating in the investment

PANews reported on April 8 that according to Fortune Magazine, crypto catering application Blackbird Labs completed a $50 million Series B financing, led by Spark Capital, and participated by Coinbase, a16z crypto, Union Square Ventures and Amex Ventures. This financing is used for the distribution of company equity and token warrants, which are not yet published cryptocurrencies. Founder Ben Leventhal said he raised the fund in the fourth quarter of 2024, and he declined to disclose the implicit valuation of the round. Blackbird Labs has raised $85 million since 2022.

According to reports, Blackbird is a restaurant loyalty and payment application. Every time a user patronizes a restaurant registered on the app, they receive a reward in the form of an in-house cryptocurrency FLY. Users can pay for meals anywhere in the cryptocurrency Blackbird network, which covers more than 600 restaurants in New York City, San Francisco and Charleston, South Carolina. Blackbird Labs released its own blockchain in February, which is built on Coinbase’s Base called Flynet.