Venture Capital Firms Tencent and Matrix Partnersjointly investment of $15 million for blockchain data network Chainbase's Series A round.
Chainbase, a chain-agnostic data network pioneering purpose-designed foundational models for crypto, has secured $15 million in a Series A funding round. The funding, led by Tencent Investment Group and Matrix Partners China, will primarily be used to accelerate the development and expansion of Chainbase's blockchain data infrastructure.
The main focus of this investment is to launch the Chainbase mainnet in Q3 2025, transitioning from testnet to full operation. This move is strategic, aiming to expand Chainbase's reach and adoption. The mainnet launch will also introduce the project's governance token, CBT.
Chainbase's network, currently used by over 15,000 developers, managing over 8,000 projects, and handling over 500 billion data calls, offers a platform that consolidates all blockchain data into a single network. The company has developed a real-time data lake for blockchain-generated data flow, making it easier for developers to access on-chain data for building and maintaining applications.
An essential part of the plan is the global community building initiative. This initiative aims to cultivate a strong ecosystem by attracting more developers, validators, and partners worldwide. Chainbase's testnet has already attracted over 2,000 validators securing a substantial amount of ETH, indicating strong community engagement. The funding will help boost this engagement further through expanded incentives, collaborations, and infrastructure support to scale network participation.
The funding round also includes participation from Folius Ventures, Hash Global, JSquare, Mask Network, and Bodl Ventures. As part of the deal, representatives from Tencent Investment Group and Matrix Partners China will have seats on the Chainbase board.
Feng, a representative from Chainbase, emphasizes the importance of these communities for better engagement with developers, users, and stakeholders. He highlights the significance of these communities for improving awareness and adoption of Chainbase's network.
This strategic focus on community building within a technically advanced infrastructure aims to position Chainbase as a leading player in the blockchain data economy amid rising market demand. The funding will support technological innovations such as Chainbase’s dual-chain and four-layer architectures, enabling it to provide high-quality, structured blockchain data especially for AI applications.
In conclusion, the $15 million Series A funding is dedicated to launching the Chainbase mainnet, strengthening the global community, supporting technological innovations, and building a robust ecosystem of partners and users to secure long-term growth and value creation.
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