ChainCatcher reported that according to CoinDesk, Allium Labs, a blockchain index and data infrastructure platform, has completed a $16.5 million Series A financing led by Theory Ventures. Its founder Tomasz Tunguz will join the board of directors. Kleiner Perkins and Amplify Partners also participated in the financing.

Allium Labs provides enterprise-level blockchain data to companies such as Visa, Stripe and Uniswap Foundation, and plans to use the funds for data infrastructure construction and market expansion. The latest data shows that the demand for stablecoins will pick up in 2024, with a circulating supply of nearly $150 billion and 27.5 million monthly active users.

According to Web3 asset data platform RootData, Allium provides on-chain data infrastructure products, ranging from hosted blockchain databases, rich data models to real-time alert capabilities.