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You are at:Home » Bunzz Raises $4.5M Seed Funding to Expand its Smart Contract Hub for DApp Development
Investment & Funding

Bunzz Raises $4.5M Seed Funding to Expand its Smart Contract Hub for DApp Development

Ravi KumarBy Ravi KumarJanuary 25, 2023Updated:January 25, 2023No Comments3 Mins Read
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Bunzz Raises $4.5M Seed Funding to Expand its Smart Contract Hub for DApp Development
Bunzz Raises $4.5M Seed Funding to Expand its Smart Contract Hub for DApp Development
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Bunzz, a web3 development platform for decentralized applications, has raised $4.5 million in a seed funding round.

Investors included gjmp, DG Daiwa Ventures, 01Booster Capital, Coincheck, Ceres, GMOWeb3, SPIRAL VENTURES, HYPERITHM, mint, GREE Ventures, Kotaro Tamura, Kazutaka Mori, and Arriba Studio.

Singapore-based Bunzz will use the fund to expand its Smart Contract Hub, which is already used by more than 8,000 dApp developers.

“Bunzz ultimately aims to become web3’s equivalent to Docker Hub,” states Bunzz CEO & Co-Founder, Kenta Akutsu. “Immutable smart contracts on the blockchain are open programs, also called ‘public goods,’ because anyone can access and use them without permission. However, the usage flow and the logic of their operation are difficult to understand, making it inconvenient for engineers who want to reuse them.”

“Bunzz aims to solve this problem by incentivizing creators of smart contract modules to create more accurate coding and documentation,” Kenta added.

Bunzz has established a strong track record since its launch 11 months ago. Over 8,000 DApp developers have been using the platform, and more than 3,000 DApp projects have been deployed on-chain, making it one of the largest DApp development infrastructures in Asia.

The platform has been recognized by top-tier landmarks as a major infrastructure service in the smart contract development sector. It has been featured on the web3 development infrastructure chaos map published by Coinbase. Additionally, Bunzz was also a finalist in Icetea Lab, Singapore’s largest web3 accelerator program.

Currently, engineers who can handle DApp development are very rare. The reason is that the barrier to developing smart contracts, which are web3-specific programs, is high. In other words, if web2 software engineers could handle contract development, it would be much easier to enter the web3 space.

Bunzz has succeeded in simplifying the previously complex development process by providing frequently used contracts as modules and wrapping the preparation of nodes and the launch of the development environment.

Smart Contract Modules in Bunzz

Bunzz has created a hub which offers a modularized version of frequently used smart contracts. These are freely available to general users and can be reused by other DApp developers.

On the other hand, there is a similar service called Open Zeppelin, an open-source library. The difference between this and Bunzz is convenience.

OZ’s code is just a library and cannot be deployed right away as it requires a development environment and nodes. Bunzz’s modules can be deployed with just a GUI which makes it a truly the “web3 version of Docker Hub”.

Read Also: HashKey Capital Secures $500M For Its New Web3 Investment Fund

Arriba Studio Bunzz Coincheck dApps (Decentralized applications) Seed Funding Web 3.0
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Ravi Kumar
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Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

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