Investment round and its participants
The investment round led by GGV Capital is a landmark event for Chainbase and the entire Web3 ecosystem. With the raised $15 million, Chainbase intends to significantly expand its capabilities and strengthen its market position. GGV Capital, known for its expertise in supporting promising startups, sees significant potential in Chainbase for transforming the approach to data handling in a decentralized environment.
Purpose of funds: Expansion and innovation
The attracted investments are directed towards two key goals:
Team expansion. Chainbase plans to hire more engineers, researchers, and sales specialists to accelerate the development of new features and expand its customer base.
Accelerating platform development. The funds will be used to improve the existing infrastructure, enabling faster and more efficient access to data for users. The company aims to develop tools that simplify data analysis from blockchains, which is critically important for developers, analysts, and investors in Web3.
What is Chainbase?
Chainbase is a platform that provides indexing and analytics services for blockchains. This allows developers to quickly and easily access data from various blockchains, such as Ethereum, Polygon, and others. Instead of indexing vast amounts of data themselves, which is a complex and resource-intensive process, Chainbase users can utilize ready-made APIs and tools to create dApps, analyze the market, or monitor transactions.
Investments from GGV Capital emphasize the importance of analytics and infrastructure tools in Web3. Companies providing foundational services for developers are essential for further growth and the implementation of decentralized technologies.
