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Polkadot & Kusama Networks Crosses $9 Mln In Series A F...
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Polkadot & Kusama Networks Crosses $9 Mln In Series A Funding.

Polkadot Ecosystem Data Indexing Protocol and Kusama SubQuery Network have closed the $ 9 million Series A funding round.

ūüöÄ SubQuery is excited to announce the close of our US $ 9 million Series A funding round co-led by @arringtonXRPcap, @DCGco and @StratosTec & participation by @hypersphere_, @NGC_Ventures, @wintermute_t & @SkynetTrading_ / QJFY9Ad0vW

– SubQuery (@SubQueryNetwork) September 8, 2021

Investments were provided by Digital Currency Group, Arrington Capital, Stratos Technologies, Hypersphere Ventures, NGC Ventures, Wintermute, and Skynet Trading. Funding was provided through SAFT.

SubQuery CEO Sam Zou told The Block about plans to decentralize the network and launch the token by early 2022. The protocol also intends to add support for the Solana and Terra blockchains.

SubQuery employs 15 people. Most of them are based in Auckland, New Zealand. The funds raised are planned to be used, among other things, for the expansion of the team.

Recall that in September, the Evrynet startup raised $ 7 million to create a DeFi application targeted at institutional investors.

In late August, Silicon Valley venture capital firm Andreessen Horowitz led the $ 20 million DeFi investment round for Syndicate.

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