Canada markets closed
  • S&P/TSX

    20,287.80
    -23.98 (-0.12%)
     
  • S&P 500

    4,395.26
    -23.89 (-0.54%)
     
  • DOW

    34,935.47
    -149.06 (-0.42%)
     
  • CAD/USD

    0.8024
    -0.0015 (-0.18%)
     
  • CRUDE OIL

    73.81
    +0.19 (+0.26%)
     
  • BTC-CAD

    51,942.09
    +411.06 (+0.80%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • GOLD FUTURES

    1,812.50
    -18.70 (-1.02%)
     
  • RUSSELL 2000

    2,226.25
    -13.78 (-0.62%)
     
  • 10-Yr Bond

    1.2390
    -0.0300 (-2.36%)
     
  • NASDAQ

    14,672.68
    -105.59 (-0.71%)
     
  • VOLATILITY

    18.24
    +0.54 (+3.05%)
     
  • FTSE

    7,032.30
    -46.12 (-0.65%)
     
  • NIKKEI 225

    27,283.59
    -498.83 (-1.80%)
     
  • CAD/EUR

    0.6756
    -0.0002 (-0.03%)
     

Decentralized Data Project Covalent Raises Another $2M

·1 min read

Blockchain data provider Covalent has closed a $2 million funding round, led by South Korea’s Hashed Ventures.

  • Other participating investors included Binance Labs, Coinbase Ventures, Delphi Ventures, Hypersphere Ventures, as well as blockchain protocol firms including Moonbeam, Avalanche, Near and Elrond, Covalent said Wednesday.

  • Covalent said it will use the new funding to launch a decentralized version of its data query network. The funds will also assist in the development of “new product offerings such as multi-chain capabilities and support for granular NFT data.”

  • “This [funding] will kickstart the progressive decentralization of the Covalent network, allowing a permissionless, sharded, global database for every single point of granular and historical blockchain data,” said Covalent.

  • The data provider reports the number of customers using its data has increased to over 100 customers, and the number of blockchains indexed has increased from one to six.

  • Covalent said the team is expecting to index a total of 12 blockchains by the end of the year.

  • Last year, Covalent closed a $3.1 million funding round.

Read more: Binance Leads $2M Funding Round for Crypto Exchange Aggregator OpenOcean

Related Stories

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting