Vybe Network raises $13.1 million CAD for Solana blockchain data infrastructure solution

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Vybe goals to make it simple for anybody to entry knowledge on Solana.

Burnaby startup Vybe Community has raised a $13.1 million CAD ($10.5 million USD) Sequence A spherical led by cryptocurrency change FTX.

The financing additionally noticed participation from Staking Amenities, Serum, Panony, Tess Ventures, Contango, Canonical Crypto Fund, EBT Group, and Sino World, which was an investor in Vybe’s $2.5 million seed spherical in January as effectively.

“We’ve seen an unprecedented trade want for an infrastructure like Vybe as new improvements on this area are quickly evolving.”– Arun Dass

Launched in the summertime of 2021 by co-founders Arun Dass (CEO) and Eoin Brady (COO), Vybe offers software program and infrastructure that enables customers to entry and use each real-time and historic knowledge from the Solana blockchain. The corporate’s suite of choices contains the Vybe app and Serum Analytics.

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Vybe stated one of many key parts in its product line is knowledge indexing, the place anybody can host and supply knowledge.

“We’ve seen an unprecedented trade want for an infrastructure like Vybe as new improvements on this area are quickly evolving,” stated Dass. “This funding will speed up the supply of our product, advance builders in experiencing extra empowerment and gas participation locally.”

Used principally by builders creating DeFi and Web3 apps, Vybe stated this new funding is earmarked to help within the decentralization of information entry and storage, enabling any consumer—no matter background or proficiency–to take part within the community, and monetize on sharing their knowledge.

Vybe joins a rising variety of Canadian corporations that provide knowledge infrastructure options for Web3 platforms.

RELATED: Dfuse rebrands, secures $73.5 million CAD grant to develop blockchain infrastructure project

One such instance is Montréal-based Dfuse, which rebranded to StreamingFast final yr because it pivoted its enterprise to supporting a blockchain infrastructure venture known as The Graph. StreamingFast additionally secured a $73.5 million CAD grant from The Graph Basis, which helps the expansion of The Graph, a community that serves as a searchable index of blockchain knowledge.

On the enterprise capital aspect, Round13 Capital unveiled a brand new $70 million USD fund final month, which goals to help blockchain and Web3 infrastructure corporations.

Featured picture from Solana’s website.

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