Chainbase, a leading omnichain data network, has secured $15 million in a Series A funding round to establish the largest on-chain data infrastructure for the Web3 ecosystem. Notable investors in the funding round include Tencent Investment Group, Matrix Partners, Hash Global, Folius Ventures, JSquare, DFG, Mask Network, Bodl Ventures, Bonfire Union Ventures, and others.
Having handled over 500 billion data calls to date, Chainbase plays a significant role in the crypto data landscape, supporting more than 15,000 developers and 6,000 projects. The company aims to democratize access to on-chain data, a crucial step in an industry where data control tends to be centralized.
Chainbase seeks to tackle the transparency and fairness challenges in the data sector, which are worsened by the dominance of only a few centralized entities. The omnichain data network created by the company is envisioned as a unified, modular, and interoperable layer, making on-chain data available to a wider audience.
By utilizing its expansive data network, Chainbase is working on developing the first crypto world model that will offer comprehensive intelligence across the crypto spectrum. This model is set to enhance AI capabilities and establishment a new standard for on-chain intelligence. The goal is to attract millions of developers and users by standardizing interfaces for on-chain data and providing value to data creators and users.
Chris Feng, Co-founder and COO of Chainbase, expressed, “This funding round signifies a pivotal moment as we strive to meet the substantial demand for scalable Web3 data. We believe in the transformative potential of Web & AI and are well-positioned to push forward our mission and deliver exceptional value to our ecosystem.”
Matrix Partners’ Partner, Harry Man, believes that Chainbase’s on-chain data could contribute to creating high-quality models, bringing intelligence to the crypto space.
Comprised mainly of data scientists and ML engineers, Chainbase’s global team boasts extensive experience in big data, AI, and the crypto industry. This diverse skill set underpins the company’s efforts to integrate data and AI within the crypto ecosystem.
The funds raised will be utilized by Chainbase to further develop and launch its groundbreaking crypto world model, enhance on-chain data intelligence, and data-driven models. Additionally, the funds will support the growth and adoption of the omnichain data network and AI capabilities.