The funds will be utilized to put the goods into production and to expand the infrastructure to other blockchains in the sector to give NFT collectors and traders with the greatest analytical capabilities available, according to the firm.
Listen to the audio
bitsCrunch funding news
BitsCrunch, a blockchain analytics business located in Chennai and Germany, has secured a seed round of Rs 5.5 crore ($750,000) from Covalent, Double Peak, GenBlock Capital, Ledger Prime, MEXC Global, and Synaps.
“As the NFT ecosystem expands, we believe bitsCrunch’s AI solutions will become increasingly important in protecting and enhancing the experience of ordinary consumers navigating the sector. In recent months, the team has made significant progress. The completion of NFTMarketcap, which will prove to be a useful instrument for marketplace analysis,” stated Bilal, Founder of GenBlock Capital.
“We are thrilled to see bitsCrunch’s future unfold and are sure that their products will become a key component of the NFT ecosystem,” Bilal said.
The cash generated will be utilized to put the goods into production and to expand the infrastructure to other blockchains in the area so that NFT collectors and traders can get the finest analytics available.
“We think that combining a tried-and-true technology like Artificial Intelligence (AI) with blockchain technology may do wonders for the ecosystem, making it safer and more dependable. “We want to restore confidence among those who are still skeptical of technology,” said Saravanan Jaichandaran, co-founder and chief data scientist at bitsCrunch.
The business is headquartered in Germany, but the majority of its workforce is based in India, and it claims to have grown its worldwide user base by more than 8x in the previous year.
Its goal, according to bitsCrunch, is to protect the NFT ecology. bitsCrunch’s objective is to use predictive analytical algorithms to extract meaningful insights from complex data sources, providing organizations with actionable knowledge.