BitsCrunch, an NFT-focused blockchain analytics business, has secured $3.6 Mn in a private round of fundraising led by Animoca Brands, with Coinbase Ventures, Polygon Studios, Crypto.com Capital, and other investors participating.
BitsCrunch Raises A Whopping $3.6 Million
The round included investors such as Borderless Capital, Bison Funds, Mapleblock, Morning Star Ventures, Shima Capital, GravityX, Thykeblock Ventures, and Spark Digital Capital. Ex-CXO Huobi, CXOs of Biconomy and Frontier, and specialists from JP Morgan, Goldman Sachs, and Facebook also funded the idea as angel investors.
The funds will be used to grow the team so that it can work on protecting several well-known blockchains, including Solana, Polkadot, Algorand, and others. Scour, Liquify, and Crunch DaVinci, among the startup’s secure services, are expected to have specialized teams.
BitsCrunch was founded by Pravin and is situated in Munich, Germany, with operations in India. It assists customers in making NFT purchase decisions by allowing them to choose which NFTs to buy and which to avoid.
In the previous year, the firm claims to have grown its worldwide user base by more than 8X. Its goal is to protect the environment of the NFT. Animoca Brands, the round’s main investor, is a major participant in the gamification and blockchain industries, claiming to have a portfolio of over 150 investments in NFT-related businesses and decentralized initiatives. BitsCrunch received $750k in seed investment from GenBlock Capital, Ledger Prime, Covalent, Double Peak, Synaps, and MEXC Global in September 2021.
The money raised from the financing round was utilized to put items into production. In addition, monies were used to expand infrastructure to other blockchains in the area, providing the finest analytical capabilities to NFT collectors and traders.
It has increased by 39% in the previous five years, from $74.2 million in FY21 to over $241 million by 2030.
