Blockchain startup dfuse raises $3.5M, led by Multicoin Capital and Intel Capital

Blockchain data startup dfuse announced that it secured $3.5 million in an oversubscribed seed round, led by Multicoin Capital and Intel Capital.

According to its press release, dfuse will utilize the proceeds to develop its cross-blockchain technology platform and expand its engineering and customer success teams.

“With the support of Multicoin Capital and Intel Capital, we’re thrilled to bring this buttery-smooth dev experience to the most promising blockchain ecosystems. We’ve assembled a team of voracious learners that has built and delivered a powerful platform that is still only scratching the surface of its capabilities,” Marc-Antoine Ross, CEO and co-founder of dfuse, said.

Founded in 2018, the Montreal-based company builds application programming interfaces (APIs) that overlay smart contract-enabled blockchain platforms including ethereum and EOS. It offers reliable Web3 data stack, with GraphQL, WebSocket, and REST APIs.

Currently, the company has four flagship products, including dfuse Stream, dfuse Lifecylce, dfuse Search, and dfuse On Demand Network that deliver real-time updates, submit irreversible transactions, search through blockchain databases, and dedicate on-demand blockchain ecosystems for developing, testing, and producing products.

BoxOne Ventures, Panache Ventures, and White Star Capital also participated in the funding round.

Meanwhile, CoinDesk reported that aside from EOS and ethereum, dfuse plans to expand its API products, with plans to include top blockchain platforms. It also revealed its upcoming partnership with security firm HackerOne for a data integrity bounty program.

The company has also recently formed a partnership with Obsidian Labs to offer EOS Studios, a graphical integrated development environment for decentralized applications on the EOSIO blockchain, to enhance developer tooling experience.