nxyz, a supplier of blockchain data infrastructure, has secured $40 million in a Series A round-headed by crypto-focused investment company Paradigm.
According to the press release, the funds will be used to acquire people, build out support for developing use cases, and grow across several blockchains. Coinbase Ventures, Greylock Partners, Sequoia Capital, and a handful of angel investors were among those that participated in the round.
nxyz, which sprang from the private, ad-free search engine Neeva, intends to build quick, dependable, and scalable blockchain indexing and data infrastructure by utilizing real-time data from chains and their related applications.
To make use of the acquired data, the platform will give developers an application programming interface (API) suite. nxyz CEO Sridhar Ramaswamy, who will also remain the head of Neeva, said in the press release:
“We created nxyz so that developers can focus on building at scale, and have the fast and simple method for indexing data they need. I’m convinced this is exactly the kind of innovation needed to help ensure the widespread adoption and success of web3.”
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