Chainbase, the 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 was attended by prominent investors including Tencent Investment Group, Matrix Partners, Hash Global, Folius Ventures, JSquare, DFG, Mask Network, Bodl Ventures, and Bonfire Union Ventures.
With over 500 billion data calls to date, Chainbase is a major player in the cryptocurrency data space, supporting over 15,000 developers and 6,000 projects. Chainbase aims to democratize access to on-chain data, a move that is seen as essential in an industry where data control is often centralized.
Chainbase aims to solve the challenges of transparency and fairness in the data space, which are exacerbated by the dominance of a few centralized entities. The company’s omnichain data network is designed as a unified, modular, and interoperable layer that makes on-chain data available to a wider audience.
Chainbase is developing the first crypto world model that leverages its extensive data network to provide comprehensive intelligence across the cryptocurrency spectrum. This model will power AI capabilities and set a new standard for on-chain intelligence. This initiative is expected to attract millions of developers and users, standardize interfaces to on-chain data, and return value to data creators and users.
“This investment represents a pivotal moment in our goal to meet the massive demand for scalable Web3 data. We believe in the transformative power of the Web & AI, and are well positioned to advance our mission and deliver exceptional value to the ecosystem,” Chris Peng, Chainbase co-founder and COO, said in a statement.
Harry Mann, Partner at Matrix Partners, believes that Chainbase’s on-chain data can help build high-quality models, bringing intelligence to the crypto space.
Chainbase’s global team of primarily data scientists and ML engineers have significant experience in the world of big data, AI, and cryptocurrencies. This diverse expertise supports the company’s efforts to integrate data and AI within the crypto ecosystem.
Chainbase plans to use these funds to develop and launch a pioneering crypto world model, to enhance on-chain data intelligence and data-driven models, and to support the growth and adoption of the Omnichain Data Network and AI capabilities.