bitsCrunch raises 5.5 crores as a Seed Funding Emerging Blockchain Analytics Company
Chennai: Germany based bitsCrunch, an emerging NFT focused Blockchain Analytics Company has raised a seed round of $7,50,000 from the Covalent, Double Peak, GenBlock Capital, Ledger Prime, MEXC Global and Synaps. It is headquarter in Chennai in India as well.
bitsCrunch aims to safeguard the NFT ecosystem. Seeing issues like forgeries, wash-trading and inefficient asset valuation in the NFT space.
“As the NFT eco-system rapidly grows, we find bitsCrunch’s AI products to be essential that will further safeguard and enhance the experience of everyday users navigating the space. The team has made excellent progress in recent months. Most notably, an important partnership with eco-system giants, Rarible, and Polygon, and the completion of NFTMarketcap, which will prove to be an invaluable tool for marketplace analysis. We are excited to see the future unravel for bitsCrunch and are confident their products will become a core component of the NFT eco-system.” Says, Bilal, Founder, GenBlock Capital
The funds will be used for getting the products into production, and for the infrastructure to expand to other Blockchains in the space to provide NFT collectors and traders with the best analytics capabilities possible.
“We believe that blending a proven technology like Artificial Intelligence (AI) with Blockchain technology can make wonders and makes the ecosystem more safer and reliable. We would like to put back the trust among people who still has some concerns over the technology, says, Saravanan Jaichandaran, bitsCrunch, Cofounder & Chief Data Scientist
bitsCrunch is headquartered in Germany, the majority of the team is in India, and it has seen more than 8x growth in global user base over the last year.