Cymbal, a Menlo Park, California-based blockchain technology startup, raised $18.5m in funding.
Backers included First Round Capital, Solana Ventures, CAA Connect, Coinbase Ventures, Patron, GV, Acrew, and UTA Ventures, among others.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO and co-founder Eric Feng, Cymbal is building a human readable blockchain explorer that allows users to view the Ethereum blockchain and search for all the billions of events and activities stored on-chain (these include holdings, transactions, social media accounts, etc.) and make it understandable by anyone.
The company started by analyzing and processing more than a hundred million data points on the Ethereum blockchain with Solana coming soon. Right now, Cymbal AI tells users what’s the ranking of a wallet’s portfolio, how many people bought NFTs today, or what’s the largest sale for a specific collection during a given week. Next up, the platform will tell users who are the top purchasers of Ethereum today and what other ERC-20 tokens they are buying as they continue to add additional blockchain data.
FinSMEs
21/07/2023