Blockchain Data Provider Allium Raises $16.5 Million in Series A Funding
Allium, a New York-based database startup specializing in blockchain data querying, has secured $16.5 million in a Series A funding round. This brings the company’s total capital raised to $21.5 million. The round was led by Theory Ventures with participation from Kleiner Perkins and Amplify Partners.
Allium was founded in 2019 and has received support from industry giants such as Stripe, Visa, the Uniswap Foundation, and Phantom. The company provides businesses with the ability to query data from over 40 blockchains using more than 100 schemas.
Simplifying Blockchain Data
Allium addresses the challenge of analyzing and reporting on blockchain activities, which can be overwhelming due to the sheer volume and complexity of data. The company normalizes data across multiple blockchains and processes thousands of smart contracts, which translates to petabytes of data.
Expanding Data Infrastructure and Go-to-Market Strategy
With the new funding, Allium plans to expand its data infrastructure and scale its go-to-market strategy. The company aims to offer launchpads for financial institutions looking to adopt digital assets and support payment providers, brokerages, and blockchain ecosystems for developers.
