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The fundraising also attracted participation from Folius Ventures, Hash Global, JSquare, Mask Network and Bodl Ventures.
Chainbase offers an omni-chain data network that consolidates all blockchain data into a single platform.
The company plans to invest the fresh funding in building crypto communities globally.
Chainbase, a chain-agnostic data network consolidating all blockchain data into a single platform has secured $15 million in a Series A funding round co-led by Tencent Investment Group and Matrix Partners China.
The fundraising also attracted participation from Folius Ventures, Hash Global, JSquare, Mask Network and Bodl Ventures. Tencent Investment Group and Matrix Partners China will have representatives on the Chainbase board as part of the deal.
Chianbase’s data network helps developers easily access on-chain data for building and maintaining applications.
“Our innovations include a real-time data lake for blockchain-generated data flow and ‘manuscripts,’ the crypto industry’s pioneering data format standard,” Chainbase co-founder and chief operating officer Chris Feng told The Block.
“Leveraging petabyte-level data within our network, we’re pioneering purpose-designed foundational models for crypto. This initiative transforms static on-chain data into dynamic, intelligent models, unlocking substantial new value and expanding the market’s potential.”
According to Chainbase, its network is used by over 15,000 developers featuring 8,000 projects and managing over 500 billion data calls.
Chainbase’s decentralised version is currently in testnet with whitelisted projects only able to access. However, plans are underway for a mainnet launch at the end of this year, accompanied by the project’s governance token CBT.
The company plans to use the fresh funding to invest in building local communities across the leading crypto hubs globally. Feng believes such communities are crucial for Chainbase to better engage with developers, users and other stakeholders on the ground, as it seeks to improve awareness and adoption of its network.
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The post Tencent and Matrix Partners Co-Lead $15M Series A for Blockchain Data Network Chainbase appeared first on NFTgators .