VC Fund Investments
Blockchain analytics startup bitsCrunch raises Rs.5.5 Cr from Covalent, Double Peak, others
bitsCrunch, a NFT-focused blockchain analytics company, has raised a seed round of USD 7,50,000 (INR 5.5 crore) from investment firms Covalent, Double Peak, GenBlock Capital, Ledger Prime, MEXC Global, and Synaps. bitsCrunch aims to solve issues in the NFT (non-fungible token) space such as forgeries, wash-trading and inefficient asset valuation. The new funds will be used for getting the products into production, and for infrastructure to expand to other blockchains in the space to provide NFT collectors and traders with the best analytics capabilities possible. Based in India and Germany, the startup has a 20-member team in India across Bengaluru and Chennai, which is working on building analytics insights for NFT marketplaces like Polygon, WazirX and many others and is also building core AI products to safeguard the ecosystem.
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