The project wants to bring scalable data APIs to web 3.0
In total Subsquid raised $3.8M in a funding round that was signed by more than 20 Polkadot and crypto investors, including four projects that currently use the Subsquid APIs. Subsquid is a node query framework and node-as-a-service provider for Substrate-based blockchains.Hypersphere Ventures led the round, and the other investors were Zeeprime Capital, Illusionist Group, DFG, Jsquare, Lattice Capital, SMAPE Capital, 0x Ventures, Signum Capital, Signal Ventures, D1 Ventures, Faculty Group, Dia Data, Zeitgeist, Chainflip, Astar Network, BwareLabs, and KodaDot. Subsquid wants to use the money to bring scalable data APIs to Web 3.0 by transforming a traditional SaaS model into a DAO with open participation.
What is Subsquid?
Subsquid is a protocol for DotSama developers that services complex queries in a fraction of the time usually needed thanks to its architecture. Its two-tier approach provides developers with decreasing data retrieval times. It boosts API reliability, while its high customizability makes it the ideal query protocol for substrate projects of any type and scale.Jack Platts, Co-Founder of Hypersphere Ventures explained why he invested into Subsquid stating: “Excited to be supporting Subsquid as one of the key infrastructure pieces for the parachain ecosystem. DotSama developers need reliable and fast endpoints to power their frontends and other blockchain-interfacing apps, and Subsquid is already serving that need with a number of parachain projects. The technical challenge to offer reliable Polkadot endpoints was immense, so we’re happy to back a team that is making it happen.”
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