TechFlow news, on July 18, according to The Block, blockchain data network developer Chainbase has completed a $15 million Series A funding round co-led by an internet company and Matrix Partners China. Other investors include Folius Ventures, Hash Global, JSquare, Mask Network, and Bodl Ventures. Following its seed and angel rounds that raised $3 million, this latest round brings Chainbase's total funding to $18 million.
Chris Feng, co-founder and COO of Chainbase, said the financing structure consists of equity with token warrants and was finalized in the fourth quarter of last year. The Chainbase network mainnet and its governance token CBT are expected to launch in the fourth quarter of this year. The token will be used to reward contributors and users on the Chainbase network, including data providers, node operators, and early adopters.
Feng said that with the new capital, Chainbase will "heavily invest" over the next six months in building local communities across major global crypto hubs. This initiative, he added, will enable Chainbase to better engage with local developers, users, and other stakeholders, boosting awareness and adoption of its network. Currently, Chainbase supports over 15,000 developers and 8,000 projects, managing more than 500 billion data calls.
