bitsCrunch, a blockchain analytics platform focused on non-fungible token (NFT), said it has raised private funding of $3.6 million in an oversubscribed round led by Animoca Brands, with participation from Coinbase Ventures, Crypto.com Capital, Polygon Studios, and others.
Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 150 investments in NFT-related companies and decentralized projects that are contributing to building the open metaverse.
bitsCrunch is headquartered in Munich and has operations in India. bitsCrunch helps people to make purchasing decisions on NFTs, enabling people to decide which NFTs to buy and which not to buy.
The fundraise also saw participation from Borderless Capital, Bison Funds, Mapleblock, Morning Star Ventures, Shima Capital, GravityX, Thykeblock Ventures, and Spark Digital Capital. Angel investors from Ex-CxO Huobi, CxOs of Biconomy, Frontier, and experts from JP Morgan, Goldman Sachs, and Facebook also backed the round.
“We are glad to be backed by some of the best-in-class investors like Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios and other leaders in the blockchain industry,” said Vijay Pravin, Founder and CEO of bitsCrunch.
The proceeds from the financing will be used to expand the team in India that can focus on securing many prominent blockchains like Solana, Polkadot, Algorand and others. They also plan to have dedicated teams for their securing services like Scour, Liquify and Crunch DaVinci.
“With the increasing number of non-fungible digital assets in circulation and the rise in NFT marketplaces, bitsCrunch has the potential to contribute meaningfully to the safety and security of the emerging open metaverse,” said Yat Siu, Executive Chairman and Co-Founder of Animoca Brands.
In September 2021, the company raised Rs 5.5 crore ($0.73 million) in a seed round from Covalent, Double Peak, GenBlock Capital, Ledger Prime, MEXC Global, and Synaps.