- BitsCrunch raised $2.4 million from a strategic investment round co-led by Cypher Capital, a leading UAE-based crypto investment firm.
- The investment will support bitsCrunch’s goal to develop an open-source, AI-powered platform for reliable NFT data and analytics across multiple blockchain networks.
- Demand was strong, with bitsCrunch raising an additional $3.85 million in just 24 minutes on CoinList – a new record for the fastest funding round on the platform.
bitsCrunch, a cutting-edge analytics platform for NFT and digital asset data, has raised $2.4 million in a strategic funding round co-led by multi-strategy crypto investment firm Cypher Capital. Backed by top investors including Coinbase Ventures, Animoca Brands and Chainlink, bitsCrunch leverages AI and blockchain forensics to deliver transparent insights for developers, investors and consumers.
The UAE-based Cypher Capital has a strong track record of identifying innovative blockchain projects. As an early-stage venture investor focused on empowering technologies driving the digital economy, the firm’s participation highlights bitsCrunch’s potential to enhance trust and experience across the burgeoning NFT sector.
Through AI-powered data collection and analytics across multiple blockchain networks, bitsCrunch aims to provide a reliable open-source platform for building applications around non-fungible tokens. This aligns with Cypher Capital’s vision of supporting robust infrastructure supporting the growth of digital economies worldwide.
Commenting on the investment, Cypher Capital Chairman Bill Qian said “We are excited to partner with Vijay and his team at bitsCrunch. They are solving the transparency problem in the NFT space through AI and data forensics, enhancing how users and investors experience this exciting new market.”
The successful funding round saw strong demand, closing $3.85 million within just 24 minutes on Coinlist – a new record for the platform. With participation from over 160 countries, it underscores widespread confidence in bitsCrunch’s mission to bring more transparency to crypto assets through decentralised data insights.
bitsCrunch CEO Vijay Pravin noted Cypher Capital’s valuable expertise and introductions, commenting “They have been one of the very few active VCs in the last bear cycle. This investment strengthens our ability to scale transparent data services across multiple blockchain networks going forward.”
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Last Updated on January 25, 2024 by Safiya K
