July 18, 2024
Chainbase, a company specializing in the development of blockchain data networks, has successfully secured $15 million in a Series A funding round. The funding round was jointly led by Tencent Investment Group and Matrix Partners China. Additional investors who participated in the round include Folius Ventures, Hash Global, JSquare, Mask Network, and Bodl Ventures.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Chainbase | $15M | July 18, 2024 | Series A | $18M | Tencent Investment Group, Matrix Partners China | Market Data |
The funding was arranged as equity accompanied by token warrants and was finalized in the last quarter of the previous year, according to Chris Feng, the co-founder and COO of Chainbase, in a conversation with The Block. Feng chose not to disclose the company's valuation at this time.
In exchange for their investment, both Tencent Investment Group and Matrix Partners China have been granted a seat on Chainbase's board, Feng revealed. With this latest round of funding, Chainbase's total capital raised now amounts to $18 million, which includes $3 million previously raised in seed and angel rounds, added Feng.
About Chainbase
Chainbase positions itself as a comprehensive data network that brings together all blockchain data onto one platform. This consolidation simplifies the process for developers to access and utilize the data for the creation and upkeep of applications.
Chainbase's data network is currently supporting more than 15,000 developers and 8,000 projects, handling over 500 billion data calls. At present, the network is accessible for projects that are on a whitelist, while a decentralized version is undergoing testing, as stated by Feng.
Website: https://chainbase.com/
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About Investor
The funding round was jointly led by Tencent Investment Group and Matrix Partners China. Additional investors who participated in the round include Folius Ventures, Hash Global, JSquare, Mask Network, and Bodl Ventures.
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