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Cryptoknowmics 2022-09-28 11:50:17

Bitquery Raises $8.5M In Seed Round, Binance Labs And Dao5 Contribute

Bitquery, a provider of blockchain data, has secured $8.5 million in a seed fundraising round co-led by Dao5 and Binance Labs, with participation from Susquehanna, DHVC, INCE Capital, and others. The money will go into developing new use cases, expanding its data coverage to support more blockchains, and refining its BIT protocol to enable real-time data distribution. Binance Labs Supports Bitquery’s Seed Funding The initial fundraising round for Bitquery was supported by Binance Labs, the venture capital and accelerator division of Binance, as part of its continued effort to assist cutting-edge blockchain data solution providers. Dao5 also led the funding round, including investments from Susquehanna, DHVC, INCE Capital, and angel investors from Google. The funds received by Bitquery would allow it to increase its data coverage to support new use cases and blockchains and develop its BIT protocol to enable real-time data transmission. Bitquery’s Contribution to Web3 Binance co-founder and head of Binance Labs Yi He stated that the company looks forward to working closely with the Bitquery team. The creative data solution providers who give market participants simple access to reliable on-chain data will continue to be identified and supported by Binance Labs. The company is confident that Bitquery’s tested technology and goal of democratizing data access will contribute to the Web3 industry’s long-term success. Bitquery provi...

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