SubQuery Raises $1.8M Seed Round for Future Expansion
SubQuery, the service making decentralised data easier to query, announced today that it has successfully raised a US$1.8 million seed round and private sale backed primarily by DeFi Alliance, D1 Ventures, Hypersphere Ventures, Digital Finance Group (DFG), and The Lao. The overwhelming demand we received to back SubQuery’s seed round shows the strong interest in infrastructure services and belief in the future of the Polkadot ecosystem.
SubQuery allows every Substrate/Polkadot team to process and query their data. The project is inspired by the growth of data protocols serving the application layer and its aim is to help Polkadot/Substrate projects build better dApps by allowing anyone to reliably find and consume data faster. Today, anyone can query and extract Polkadot network data in only minutes and at no cost.
“Betting on Subquery is betting on the overall Polkadot ecosystem, and in this early stage a big part of that is infrastructure. They are a front-runner in this area as their customer base includes some of the top Polkadot projects. The Subquery team is also one of the most passionate teams in crypto we’ve come across. We are excited to support them.” — Imran Khan, Partner at the DeFi Alliance
OnFinality is the team behind SubQuery, who are an infrastructure SaaS platform for blockchain teams and users to launch nodes and get access to a large range of blockchain protocols. They have a suite of symbiotic services including shared node API services, and have relationships with the top Polkadot/Substrate teams.
“Hypersphere is excited to back Sam and the SubQuery team as they quickly build the first indexing protocol to focus exclusively on the Polkadot ecosystem.” — Jack Platts, Co-Founder at Hypersphere Ventures
Led by Sam Zou, CEO of SubQuery, the team received a grant from the Web3 foundation in December 2020 to build the initial phase of SubQuery, an open source project that allows users to run an indexer across their chain to build a dataset that can be queried with GraphQL.
Since then SubQuery has launched the SubQuery Explorer. An online hosted service that provides access to published SubQuery projects made by contributors around the world and managed by the SubQuery team. We’ve also established strategic partnerships with the top Polkadot projects, including Acala, Plasm, and Moonbeam.
This seed raise will supercharge the development of SubQuery and accelerate the delivery of critical data services to the Polkadot/Substrate community. This includes building a free public service to host and manage community SubQuery projects, building a community around data and knowledge sharing, and the eventual tokenization of our project.
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