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29 May 2024
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Subsquid Raises $17.5M, Collaborates with Google Prior to Token Launch

Subsquid Raises $17.5M, Collaborates with Google Prior to Token Launch

Subsquid has announced that it has secured $17.5 million in investment to develop its omnichain indexing solution. With the integration of the Web3 indexing provider’s SDK with Google BigQuery, developers may now analyze robust blockchain data.

Google and Subsquid’s integration offers businesses and big data analytics a potent blockchain data source. Through its Squid SDK, Subsquid Network has already completely integrated with Google BigQuery, allowing developers to use Google’s technology to analyze blockchain data.

This comes after a successful testnet with over 70,000 users who added over 20,000 indexers to the network, as well as many significant integrations including Berachain, Neon EVM, CORE, and Starknet.

The $6.3 million community sale by Subsquid, which concluded in 19 minutes—the quickest CoinList sale ever—capped a total fundraising of more than $17.5 million and attracted thousands of new token holders. Investments in recent rounds came from DFG, Hypersphere, Zee Prime, Blockchange, and Lattice.

Jack Platts, Co-Founder, Hypersphere stated:

“Helping to build networks is one of our primary purposes at Hypersphere. By investing in Subsquid, we are ensuring that network and protocol developers always have access to the data they need to build. Subsquid reduces data costs for at scale deployment for many of the most popular blockchains and developer communities in the industry.”

Subsquid co-founder Dmitry Zhelezov stated:

“With our token launch just around the corner, this is just the beginning of the next generation of the open internet: Permissionless data access for anyone building in the Web3 space. By eliminating vendor-lock and serving data in a P2P manner, Subsquid is a game-changer, and a fundamental improvement over the status quo of centralized solutions that have full control over the data.”

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