Binance Labs, Binance's venture capital arm, invested in BIO Protocol, a platform enabling early-stage scientific research firms to receive decentralized financing.

Binance, powered by BNB, announced on Nov. 8 that it will enter decentralized science with the investment.

Bunance Labs calls BIO Protocol the “Y Combinator of on-chain science” referring to the U.S. VC company and startup accelerator.

BIO Protocol connects scientists and investors for collaborative finance and co-ownership, advancing DeSci.

The platform consists of seven BioDAOs, which focus on women's health, mental health, and cryopreservation.

The BIO Protocol team wants to grow its BioDAOs with seed investment for new organizations. BIO plans to expand its scientific funding visibility and effect with community and tokenomics assistance.

Binance Labs has expanded its VC portfolio to support many startups across industries. This includes the investing platform's support of Bitcoin liquid staking platform Lombard.

Crypto and blockchain startup financing firm has also invested in Solana staking system Solayer and Telegram mini-app Blum.