Vybe Network, the premier data infrastructure solution, today announced the close of a $10.5 million USD Series A investment. Vybe Network enables the Solana community to query, index and exchange on-chain data to build Web3 dApps and analytics. The round is led by FTX with additional participation from Sino Global, Staking Facilities, Serum, Panony, Tess Ventures, Contango, Canonical Crypto Fund and EBT Group.
Launched in the summer of 2021, the company provides software and infrastructure that allows users to easily access and utilize both real-time and historical data from the Solana blockchain. A key component of Vybe is data indexing, where anyone can host and provide data to the network in a permissionless and transparent manner. The latest funding comes on the heels of significant growth at Vybe. The company’s products include the VYBE app and Serum Analytics.
“We’ve seen an unprecedented industry need for an infrastructure like Vybe as new innovations in this space are rapidly evolving,” said Arun Dass, CEO and Founder of Vybe. “This funding will accelerate the delivery of our product, advance developers in experiencing more empowerment and fuel participation in the community.”
Also Read: Reskilling the Workforce to Better Reap the Benefits of AI
Vybe will use this new funding to aid in the decentralization of data access and storage, allowing any user – regardless of background or proficiency – to participate in the network, monetize and share their data, power innovative dApps and gain insights into favored Solana protocols. The infrastructure powers the user experience and sits as a core middle ground between the blockchain and user-facing dApps or marketplaces. Building on its existing technology, the company will help users advance their existing skills while also benefitting from new advancements in blockchain technology.
As it enters this next phase of growth, Vybe will also be a leading data provider and infrastructural component of the Solana ecosystem, where users can participate as data providers or leverage on-chain data to create analytics or data intensive dApps.
Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.