Elementus?, New YorkA blockchain firm located in the United States has secured $10 million to finance its operations. Series Web3 enterprise capital firm leads A-2 funding round Parafi Capital. This injection of capital values the company at $160 million and is designed to help Elementus it will continue to build its processes to provide clients and governments in the Web3 space with robust, efficient, and secure blockchain insights.
Blockchain Analytics Provider Elementus Closes $10 Million Investment Round in a Bear Market
Crypto Companies that focus on providing tools to view the Web3 landscape have been able to survive and even thrive in the current market downturn. Elementus?, New YorkA blockchain firm that is based in the United States, which aims to revolutionize markets by offering blockchain services GoogleIt has also raised $10 million to fund granular analytics for Web3 platforms. Series A-2 funding round, headed by Parafi Capital, a crypto VC firm. , and with participation Moonshots Capital, Spitfire Ventures And Colaco Investment Group.
With This funding Elementus It is valued at $160 million. This represents substantial progress. October 2021: The company raised $12 million for a $52 million valuation. That Financing round led by Velvet Sea VenturesThis included participation Alameda Research And BlockfiThese are two companies now in bankruptcy proceedings.
Funds The funds raised will be used to continue building the infrastructure required to make blockchain analytics more accessible to Web3 institutions through contracting processes and new product development.
Significance of Blockchain Analytics
These events, along with the crash in FTX, a cryptocurrency alternative, and the increase Web3 hacks have all highlighted the importance of effective blockchain monitoring programs. Max GalkaCEO of ElementusHe believes that corporate programs can be used to help institutions restore trust in blockchain firms. In Press release Galka stated:
Last year highlighted how important it is to understand, verify and communicate blockchains. As Although the crypto industry appears to be recovering from a difficult year, it will be essential to ensure that consumers and businesses in this market are able to trust each other.
The Company has been chosen to be part of two high-profile crypto legal cases. ElementusUnsecure creditors are currently using ‘companies to perform forensic audits related to Celsius And Blockfi, two cryptocurrency lenders who filed for bankruptcy last year.
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