8 months ago
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Data infrastructure provider Syntropy raises additional funding from top crypto VCs.
The capital aims to advance its multichain data infrastructure development.
The company raised $4 million in May 2023, and a $5 million seed funding round.
Syntropy, a Web3 data infrastructure provider that powers modular, interoperable data infrastructure across all major chains, announced an additional capital funding round for an undisclosed sum. The latest capital raise was led by CMCC Global, with several top crypto VCs also participating in the round. Some of the notable investors include Polygon Ventures, HV Capital, Faculty Group, Wave Capital, Moonrock Capital, DVNCI Capital, TRGC Capital, Mapleblock Capital, AntAlpha, and Public Works.
The latest investment round aims to enhance development in Syntropy and help the company push towards leading the Web 3 decentralized interoperable data infrastructure market. In addition, the latest funding aims to help the company achieve its mission to “scale Syntropy’s layer1 data streaming blockchain”, as Syntropy CEO Daniel Haudenschild explained.
Notwithstanding, the capital injection will enable Syntropy to leverage the expertise of its new partners (and/or investors) to enrich the Web 3 data infrastructure market. One of the leading investors and CMCC Co-Founder, Charlie Morries showed excitement in their latest investment and praised the innovative nature of Syntropy in the Web3 data streaming services space.
“They’re innovating in providing web3 data streaming services that allow developers and enterprises to build responsive, data-driven products,” Mr Morries said. “Syntropy will be an important enabler of the next wave of web3 applications and we are excited to be supporting such a passionate team.”
Adding to Morries' comments, Yaroslav Writtle, Partner at Faculty Group, believes Syvtropy is leading the next revolution in the Web 3 ecosystem – given the strides made in the push towards scaling data infrastructure platforms.
“Syntropy provides real-time, decentralized data services that lay the foundations for the development of more sophisticated on-chain use cases. We’ve been impressed by the team’s ability to execute their vision and are excited to support them on their journey,” Writtle added.
Syntropy developers are building solutions towards solving one of the biggest pain points in web3 today – accessing reliable, low-latency on-chain data across different blockchains. They aim to provide a user-friendly, chain-agnostic data infrastructure platform to its investors and users.
The next funding round, Series A funding is expected to be raised later in the year, as the company nears its mainnet launch.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
