Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios and Other Investors Participated in bitsCrunch Funding Round
Funding proceeds will be used to expand the team which can focus on securing major blockchains such as Solana, Polkadot, Algorand and others
bitsCrunch plans to have dedicated teams for its security services such as Scour, Liquify and Crunch DaVinci
NFT-focused blockchain analytics startup BitsCrunch has raised $3.6M in a private funding round from lead investor Animoca Brands with participation from Coinbase Ventures, Crypto.com Capital , Polygon Studios and other investors.
Borderless Capital, Bison Funds, Mapleblock, Morning Star Ventures, Shima Capital, GravityX, Thykeblock Ventures, and Spark Digital Capital participated in the round. Angel investors from former CXO Huobi, CXOs from Biconomy, Frontier and experts from JP Morgan, Goldman Sachs and Facebook have also backed the project.
Proceeds from the funding will be used to expand the team which can focus on securing many prominent blockchains such as Solana, Polkadot, Algorand and others. The startup plans to have dedicated teams for its security services such as Scour, Liquify and Crunch DaVinci.
“We are pleased to be backed by some of the best in class investors like Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios and other blockchain industry leaders,” said Vijay Pravin Maharajan, founder and CEO of bitsCrunch. .
Founded by Pravin, bitsCrunch is based in Munich, Germany, and operates in India. It helps people make buying decisions on NFTs, allowing them to decide which NFTs to buy and which not to buy.
The startup claims to have more than 8x global user base growth over the past year. It aims to preserve the NFT ecosystem. Its main investor in the funding round, Animoca Brands is a major player in the gamification and blockchain sector and claims to hold a large portfolio of over 150 investments in NFT-related companies and decentralized projects.
“With the growing number of non-fungible digital assets in circulation and the rise of NFT markets, bitsCrunch has the potential to contribute significantly to the safety and security of the emerging open metaverse,” said Yat Siu, Executive Chairman and co-founder of Animoca. Trademarks.
As of September 2021, bitsCrunch had raised $750,000 in its seed funding round from GenBlock Capital, Ledger Prime, Covalent, Double Peak, Synaps, and MEXC Global.
The proceeds from the financing round were used to purchase products in production. Additionally, funds have been used for infrastructure expansion to other blockchains in the space to provide NFT collectors, as well as traders, with the best possible analytical capabilities.
For some time, Bharti Airtel has acquired a strategic stake in blockchain technology startup, Aqilliz. Aqilliz has developed a patented hybrid blockchain platform, Atom that integrates differential privacy and federated learning on a distributed digital ledger.
Airtel aims to deploy Aqilliz’s advanced blockchain technologies at scale across its fast-growing Adtech (Airtel Ads), Digital Entertainment (Wynk Music & Airtel Xstream) and Digital Marketplace (Airtel Thanks App) offerings, Bharti Airtel said in a statement.
According to a report by Nasscom and WazirX, India’s crypto-tech industry has grown rapidly over the past few years. It grew 39% over the past five years from $74.2 million in FY21 and is expected to reach nearly $241 million by 2030.