BitsCrunch mops up Rs 5.5 crore in seed funding

Blockchain analytics start-up BitsCrunch on Monday said it has raised Rs 5.5 crore in seed funding from a group of investors including technology firm Covalent, venture capital firms Double Peak and GenBlock Capital. Ledger Prime, MEXC Global, and Synaps also participated in the round.

“Currently we are planning to index the data across blockchains like Ethereum, Polygon, Solana, Avalanche, and a few other blockchains. We are planning to increase our technology team size in India to build analytics insights to provide a dashboard for NFT marketplaces,” Bitscrunch co-founder and chief data Scientist Saravanan Jaichandaran said in a statement.

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The company will also use funds for getting the products into production, and for the infrastructure to expand to other blockchains in the space to provide NFT collectors and traders with the analytics capabilities. BitsCrunch is headquartered in Germany, majority of the team is in India. The company claims to have seen more than 8 times growth in global user base over the last year.