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Blockchain Analytics Firm bitsCrunch Raises $3.4 Million from Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios

News
Blockchain Analytics Firm bitsCrunch Raises $3.4 Million from Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios

Germany-based blockchain analytics firm bitsCrunch today announced it had raised $3.6 million in a private round of funding.

bitsCrunch Raises $3.6 Million

Leading blockchain analytics firm focused on offering securing services powered by Artificial Intelligence (AI) for non-fungible tokens (NFTs) bitsCrunch today announced a successful raise of $3.6 million in its latest private funding round.

Notably, the funding round was led by Animoca Brands and witnessed participation from Coinbase Ventures, Crypto.com Capital, and Polygon Studios, among others.

For the uninitiated, Animoca Brands is a leading blockchain and gamification-focused firm with a large portfolio of more than 150 investments in NFT-based companies and decentralized projects that are laying the foundation for the open metaverse.

Besides Animoca Brands, the funding round witnessed participation from Coinbase Ventures, Crypto.com Capital, and Polygon Studios.

In addition, the round 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 project.

Focus on Expanding the Team

Notably, the fresh funds will be used toward expanding the bitsCrunch team that can focus on securing many prominent blockchains.

Commenting on the development, Yat Siu, the Executive Chairman and Co-founder of Animoca Brands, said:

“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.”

Similar sentiments were echoed by Vijay Pravin, Founder and CEO of bitsCrunch. He said:

“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.”

Headquartered in Munich, bitsCrunch also has operations in India.

bitsCrunch is committed to making NFT purchase decisions easier for users the world over. The platform makes it easier to decide which NFTs to buy, and more importantly, which not to buy.

Interested users can check out the official bitsCruch website here.