Posted: March 14, 2024 11:00 AM Updated: March 14, 2024 11:00 AM
Gibraltar, Gibraltar, March 14, 2024, Chainwire
Web3 data infrastructure developer Syntropy announced additional funding from a number of leading blockchain VCs. The new capital injection will support Syntropy’s goal of building an interoperable, modular data infrastructure across all major chains. The latest raise adds several high-profile investors to Syntropy’s cap table, putting the startup in the best position to execute a mainnet launch in the second quarter.
In addition to benefiting from follow-on funding, Syntropy aims to leverage the expertise of 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. Investments also came 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 are thrilled to welcome this acclaimed group of blockchain investors to Syntropy. “Their deep expertise and network will be invaluable as we scale Syntropy’s layer-1 data streaming blockchain.”
CMCC co-founder Charlie Morries added: “We are pleased to lead this investment round in Syntropy. They are innovating in providing web3 data streaming services to help developers and enterprises build responsive, data-driven products. Syntropy will be a critical enabler of the next generation of web3 applications, and we are excited to support such a passionate team.”
Yaroslav Writtle, Partner at Faculty Group, said: “As the blockchain ecosystem matures, the ability to integrate, interact with, and search on-chain data is becoming an increasingly important fundamental for scaling. To this end, Syntropy provides real-time distributed data services that lay the foundation for developing more sophisticated on-chain use cases. We are impressed with the team’s ability to execute on their vision and are excited to support them on their journey.”
New investors were attracted to Syntropy’s vision to build a real-time, chain-agnostic data infrastructure for developers. This solves one of the biggest problems in web3 today: accessing reliable, low-latency on-chain data across multiple blockchains. With the technology validated and the runway extended, the company is poised to raise its Series A in late 2024 with a focus on launching the mainnet and accelerating ecosystem growth.
Introduction to Syntropy
Syntropy powers modular and interoperable data infrastructure across all major chains. At its core is the data layer, a protocol that acts as a customizable execution layer between all blockchains. This allows developers to build composable, use-case-specific, interoperable applications that can run on any data on any chain.
Learn more: https://www.syntropynet.com/
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