SubQuery Announces US$9 Million Funding Round
SubQuery announces a US$9M funding round for the first decentralised data aggregation layer for the Polkadot ecosystem. This round brings together key stakeholders into the Web3 Ecosystem, building toward SubQuery’s vision as fundamental data indexing infrastructure for all Polkadot and Kusama parachains and applications.
SubQuery aims to improve access to decentralised blockchain data by creating a vibrant marketplace for data indexing and provisioning. Its technology provides Polkadot and Kusama developers with the tools needed to easily explore, transform and analyse on-chain data. Abstracting the backend, SubQuery eliminates the need for custom data processing servers. It lets developers focus on product development and user experience rather than building their own querying systems.
This round of fundraising will accelerate SubQuery’s technical and community roadmap in 2021 and beyond. The team plans to decentralise and tokenise the protocol and build the SubQuery Network so they can onboard incentivised participants from around the world. SubQuery is also planning on improving and scaling their services as over 60 projects are already using its hosted services. Looking ahead, the team plans to integrate with other Layer 1 chains, including Solana, Terra, and others.
About SubQuery
SubQuery is a decentralised data aggregation, indexing & querying layer between Layer-1 blockchains and decentralised applications. The protocol abstracts away blockchain data idiosyncrasies with the SubQuery SDK, allowing developers to focus on deploying their core product without needlessly wasting efforts on custom backend technologies.
