Syntropy Secures Fresh Funding to Build Out Its Web3 Data Layer
Gibraltar, Gibraltar, March 14th, 2024, Chainwire
Web3 data infrastructure developer Syntropy has announced additional funding from a host of leading blockchain VCs. The fresh capital injection will support Syntropy’s goal of building out modular, interoperable data infrastructure across all major chains. Several high-profile investors have been added to Syntropy’s cap table with the latest raise, leaving the startup primely positioned to execute on its mainnet launch in Q2
In addition to benefiting from follow-on funding, Syntropy aims to leverage the expertise of its new strategic investors with expertise in web3 infrastructure. This includes CMCC Global, which shares Syntropy’s commitment to advancing the development of decentralized interoperable data infrastructure. Investment has also come from Polygon Ventures, HV Capital, Faculty Group, Wave Capital, Moonrock Capital, DVNCI Capital, TRGC Capital, Mapleblock Capital, AntAlpha, and Public Works.
Syntropy CEO Daniel Haudenschild said: “We’re thrilled to welcome this acclaimed group of blockchain investors to Syntropy. Their deep expertise and networks will be invaluable as we scale Syntropy’s layer1 data streaming blockchain.”
CMCC Co-Founder Charlie Morries added: “We are delighted to be leading this investment round in Syntropy. They’re innovating in providing web3 data streaming services that allow developers and enterprises to build responsive, data-driven products. Syntropy will be an important enabler of the next wave of web3 applications and we are excited to be supporting such a passionate team.”
Yaroslav Writtle, Partner at Faculty Group, said: “As the blockchain ecosystem matures, the ability to amalgamate, interact and retrieve onchain data is becoming an increasingly important primitive for scaling. To this end, Syntropy provides real-time, decentralized data services that lay the foundations for the development of more sophisticated onchain use cases. We’ve been impressed by the team’s ability to execute their vision and excited to support them on their journey.”
The new investors were attracted to Syntropy’s vision of creating real-time, chain-agnostic data infrastructure for developers. This solves one of the biggest pain points in web3 today: accessing reliable, low-latency onchain data across different blockchains. With its technology validated and runway extended, the company is poised to raise a Series A later in 2024 as it focuses on shipping its mainnet and ramping up ecosystem growth.
About Syntropy
Syntropy powers modular, interoperable data infrastructure across all major chains. At its core lies the Data Layer, a protocol serving as the customizable execution layer between all blockchains, allowing developers to build composable, use-case-specific, interoperable applications that can execute on any data from any chain.
Learn more: https://www.syntropynet.com/
