Subsquid Labs Enters Strategic Partnership with Global Investment Firm M31 Capital
Zug, Switzerland, July 24th, 2024, Chainwire
Subsquid Labs enters a strategic partnership with M31 Capital to drive global adoption of Web3 AI technologies.
Subsquid Labs is thrilled to partner with the leading investment firm backing the pioneering builders of crypto-enabled AI ecosystems. The goal of the collaboration is to unlock the full potential of the blockchain data aggregated by Subsquid Labs’ decentralized data access Layer, SQD Network, by driving the development of innovative Web3 AI use cases on top.
Over the next 12-18 months, the parties will join forces to position SQD as the go-to data access solution for Web3 and AI, among other things, by improving product positioning, implementing required features to support Web3 AI use cases, and growing the number of network participants contributing to the data access layer.
Within a short time since its mainnet launch, Subsquid Labs has grown the adoption of its network to hundreds of dApps, supported by more than 800 worker nodes responding to data requests in its decentralized network.
“We deeply appreciate M31’s outstanding dedication to allocating resources and truly understanding the vision we’re pursuing. Their data-driven long-term approach is quite rare in a landscape seemingly dominated by short-termism. Their help will be incredibly valuable in increasing SQD’s market share and entering new markets.”
Marcel Fohrman, Co-Founder, Subsquid Labs.
“We knew SQD would be a perfect partner for our Web3 AI ambitions after the first call with founders Marcel and Dmitry, where we shared a similar vision for the exciting new AI use cases the platform could support. However, what sealed the deal for us was their obsessive attention to unit economics and commitment to building sustainable value for the long-term. This dedication has been validated by their recent partnership with Google Cloud – but this is just the beginning for SQD.”
David Attermann, Head of Web3 Investments, M31 Capital
For more information about the partnership and future initiatives, please contact Subsquid Labs at: info@sqd.dev
About SQD Network
SQD Network is a hyper-scalable modular data platform that combines a decentralized data lake with a highly efficient query engine to unlock new functionality for dApps, AI agents, analytics, and ZK Proofs/TEE by providing blazing-fast blockchain indexing. By replacing reliance on RPCs for querying chains, SQD facilitates retrieval of onchain data at scale, powering seamless user and builder experiences.
About Subsquid Labs
Subsquid Labs is a blockchain infrastructure startup that created, and contributes to SQD Network.
About M31
M31 Capital is a global investment firm focused exclusively on blockchain technology. Since 2011, the firm has been an early investor in over one hundred companies, tokens, DAOs, and projects that leverage blockchain to promote individual sovereignty. Today, M31 Capital manages institutional-grade hedge funds, venture funds, and index funds for some of the world’s top investors.
