Blackbird Raises $50 Million to Enhance Crypto Dining App – Coincu

Blackbird completed a $50 million Series B funding round during Q4 2024, backed by Spark Capital and others, expanding its crypto dining presence.

The funding shows increased blockchain adoption within hospitality, despite lack of wider crypto market impact.

Blackbird’s $50M Series B Boosts Crypto Dining Ventures

Blackbird, a crypto dining app founded by Ben Leventhal, raised $50 million in Series B funding, led by Spark Capital. This funding boosts Blackbird’s blockchain-based loyalty program, with participation from Coinbase, a16z crypto, and others, aiming to expand its influence in the dining sector.

This funding allows Blackbird to enhance its $FLY token technology, already in use at over 1,000 venues. The company’s blockchain network, Flynet, provides restaurants with better insights into their customers. Ben Leventhal, Founder and CEO, Blackbird Labs, emphasized, “Blackbird’s mission is to redefine the restaurant economy by helping restaurants understand their customers better and offering innovative loyalty solutions.”

Arianna Simpson from a16z crypto highlights how Web3 enhances restaurant-consumer interaction. Despite some excitement, Blackbird’s innovation faces hesitancy due to unclear crypto regulations. Currently, no statements have been made by major regulatory bodies like the SEC.

Flynet Continues Expansion Despite Market Challenges

Did you know? Blackbird previously raised $24 million in Series A funding in 2023, leading to its initial blockchain loyalty initiative. This mirrors earlier projects like NFT-driven systems, which also faced adoption challenges.

Franklin’s token, FLY, operates on Flynet. As of April 8, 2025, its market cap stands at $318,472.20, with 4.06% growth over 24 hours. Despite a 0.15% 7-day decline, it marks diminishing interest in wider markets, according to CoinMarketCap.

According to Coincu research, Blackbird’s efforts might pioneer regulatory clarity in blockchain applications, prompting better insights into future financial impacts. Notably, these developing innovations could redefine restaurant technology, attracting more widespread institutional investment.