According to TechFlow, on July 18, The Block reported that Chainbase, a blockchain data network developer, completed a $15 million Series A financing led by Tencent Investment Group and Matrix Partners China. Other investors include Folius Ventures, Hash Global, JSquare, Mask Network and Bodl Ventures. It is reported that this round of financing brings Chainbase's total funding to $18 million, following the $3 million in seed and angel rounds.

Chainbase co-founder and COO Chris Feng said the round was structured as equity with token warrants and was completed in the fourth quarter of last year. The Chainbase network mainnet and its governance token CBT are expected to be launched in the fourth quarter of this year. The token will be used to reward Chainbase contributors and users, including data providers, node operators and early adopters.

Feng said that with the new funds in place, Chainbase will "invest heavily" in building local communities in major cryptocurrency centers around the world over the next six months. He added that this will enable Chainbase to better engage with local developers, users and other stakeholders to increase awareness and adoption of its network. Currently, Chainbase's network supports more than 15,000 developers and 8,000 projects, managing more than 500 billion data calls.