Chainbase, a leading omnichain data network, has raised $15 million in a Series A funding round, to build the largest on-chain data infrastructure for the Web3 ecosystem. The Series A funding round saw contributions from high-profile investors including Tencent Investment Group, Matrix Partners, Hash Global, Folius Ventures, JSquare, DFG, Mask Network, Bodl Ventures, Bonfire Union Ventures, and others.
With over 500 billion data calls to date, Chainbase is a critical player in the crypto data landscape, supporting over 15,000 developers and 6,000 projects. Chainbase aims to democratize access to on-chain data, a move seen as vital in an industry where data control is often centralized.
Chainbase aims to address the challenges of transparency and fairness in the data realm, which are exacerbated by the dominance of a few centralized entities. The company’s omnichain data network is designed to be a unified, modular, and interoperable layer, making on-chain data accessible to a broader audience.
Leveraging its extensive data network, Chainbase is developing the first crypto world model to provide comprehensive intelligence across the crypto spectrum. This model will enhance AI capabilities and set a new standard for on-chain intelligence. The initiative is expected to attract millions of developers and users, standardizing interfaces for on-chain data and returning value to data creators and users.
“This investment marks a pivotal moment as we aim to meet the massive demand for scalable Web3 data. We believe in the transformative power of Web & AI, and are well-positioned to advance our mission and deliver exceptional value to our ecosystem,” Chris Feng, Co-founder and COO of Chainbase, said in a statement.
Harry Man, Partner at Matrix Partners, believes that Chainbase’s on-chain data can contribute to high-quality models, bringing intelligence to the crypto space.
Chainbase’s global team, consisting predominantly of data scientists and ML engineers, has substantial experience in big data, AI, and the crypto world. This diverse expertise underpins the company’s efforts to integrate data and AI within the crypto ecosystem.
Chainbase plans to use the funds for developing and launching its pioneering crypto world model, enhancing on-chain data intelligence and data-driven models. Additionally, the funds will be used to support the growth and adoption of the omnichain data network and AI capabilities.