CDS Startups Blockchain Data Startup Nxyz Raises $40M
Startups

Blockchain Data Startup Nxyz Raises $40M

416
Nxyz $40M Raised in Series A funding
Nxyz $40M Raised in Series A funding

Nxyz, a Web3 platform that provides data infrastructure for blockchains, has raised $40 million in a Series A round led by Paradigm, a mostly crypto-focused investment. Among those who participated in the tour were names such as Coinbase Ventures, Greylock Partners, Sequoia Capital. Alongside these names were Web3 angel investors such as former coinbase chief technology officer Balaji Srinivasan, Jaynti Kanani, Jing Wang, Packy McCormick, Surojit Chatterjee, and Ryan Selkis. According to the press release at the end of the round, it was said that the collected investment will employ new talent, create support in emergencies, and be used for growth across different blockchains. Matt Huang, co-founder and managing partner of Paradigm, said:

Table of Contents

“Nxyz has a truly outstanding team building the best data infrastructure for Web3, and we at Paradigm are excited to support them.”

nxyz
nxyz

About Nxyz

Founded by Sridhar Ramaswamy, a former Google advertising executive, Nxyz aims to provide blockchain indexing and data infrastructure that focuses on speed and security, perhaps the two most important factors for blockchains. The platform takes advantage of the collected data by providing users with an application programming interface. Through this API, it is able to convert data on the blockchain in less than 200 milliseconds. Sridhar Ramaswamy said:

“We created Nxyz so that users can focus on creating content on a large scale and have a quick and simple method to index the data they need. I am convinced that this is exactly the kind of innovation that is needed to help ensure the widespread adoption and success of Web3,”

Created by a team who previously worked as systems engineers at Google earlier this year, Nxyz currently supports Ethereum, Polygon, Binance, Avalanche, Arbitrum and Optimism. More than 5 billion transactions have taken place on the platform so far.

References

www.businesswire.com

n.xyz

www.theblock.co

Written by
oguz

The author is a political science and public administration student at Kocaeli University. He is also studying Management Information Systems at Anadolu University. He met Blockchain technology and Cryptocurrencies for the first time in 2019. Interested in cryptocurrencies for over 2 years. In addition he provides E-commerce and social media marketing services.

Related Articles

Chainbase Raises $15 Million in Series A Funding to Advance Web3 On-Chain Data Infrastructure

Chainbase Raises $15 Million in Series A Funding to Advance Web3 On-Chain...

Crypto News Today- El Salvador Launches Bitcoin Treasury Oversight Site Worth $360 Million

El Salvador made history by becoming the first country to adopt Bitcoin...

SHIB Team Raises $12 Million in Funds to Become a Global Meme Hub

The SHIB team is moving the project forward every day.