Chainbase, an omnichain data network, has recently secured $15 million in Series A funding. The investors include Tencent Investment Group, Matrix Partners, and Hash Global. This funding will be used to expand Chainbase’s network and enhance its AI capabilities.
Chainbase is focused on creating the “first crypto world model” by providing unbiased and transparent data from various cryptocurrencies. The goal is to ensure that the data is not controlled by a small group of dominant companies. This initiative aims to bring more transparency and reliability to the cryptocurrency industry.
With the new funding, Chainbase plans to grow its network and increase adoption among users. Additionally, the company will work on developing its AI capabilities to provide more advanced services to its users. This expansion will help Chainbase to solidify its position as a key player in the omnichain data network ecosystem.
It is important to note that CoinDesk, the media outlet covering the cryptocurrency industry, has strict editorial policies in place. In November 2023, CoinDesk was acquired by the Bullish group, which owns Bullish, a regulated digital assets exchange. Both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets such as bitcoin. Despite this acquisition, CoinDesk continues to operate independently with an editorial committee to safeguard its journalistic independence.
Overall, the funding secured by Chainbase will enable the company to grow its network, enhance its AI capabilities, and provide more reliable and transparent data to users in the cryptocurrency industry. This development highlights the increasing importance of omnichain data networks in the digital asset ecosystem and the potential they have to revolutionize the way data is handled in the cryptocurrency space.