Chinese tech giant Tencent has led a $15 million Series A funding round for Chainbase, an omnichain data network for web3. The funding, with contributions from Matrix Partners and Hash Global, aims to enhance on-chain intelligence.
Chainbase, the world’s largest omnichain data network, focuses on creating a comprehensive on-chain data infrastructure for the web3 space. This infrastructure simplifies blockchain data access for developers, aiding applications like digital currencies and smart contracts.
The fresh funds will help Chainbase develop a pioneering crypto world model, improving blockchain data intelligence and expanding AI capabilities. The platform supports 8,000 live projects and 15,000 developers, handling over 500 billion data calls.
Co-founder Chris Feng emphasized the significance of the funding, stating it would help build the first Crypto World Model. Chainbase plans to launch its mainnet, featuring a 4-layer dual consensus omnichain data network, with a test net expected in August.
In partnership with the Open Network Foundation and Tencent Cloud, Chainbase has already launched a data indexing product on TON. Tencent’s involvement aligns with its role in China’s metaverse working group, aiming to set metaverse standards.
The funding marks a strategic step toward engaging millions of developers and retail users, standardizing tools for on-chain data development and machine learning, and advancing web3 adoption in the Asia-Pacific region.
