bitsCrunch Raises $3.6 Million In Private Round

The funds will be utilized to expand its team in India and to secure prominent blockchain technologies such as Solana, Polkadot, Algorand, among others

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bitsCrunch, a blockchain analytics firm providing secured services using artificial intelligence (AI) to safeguard the NFT ecosystem, on Thursday raised $3.6 million in a private round of funding from Animoca Brands with participation from Coinbase Ventures, Crypto.com Capital, Polygon Studios, among others.

Company handout

The funds will be utilized to expand its team in India and to secure many prominent blockchain technologies such as Solana, Polkadot, Algorand, among others, said a statement.

"With the increasing number of non-fungible digital assets in circulation and the rise in NFT marketplaces, bitsCrunch has the potential to contribute meaningfully to the safety and security of the emerging open metaverse," said Yat Siu, executive chairman and co-founder of Animoca Brands.

"We are glad to be backed by some of the best-in-class investors like Animoca Brands, Coinbase Ventures, Crypto.com Capital, Polygon Studios and other leaders in the blockchain industry," said Vijay Pravin, founder and CEO of bitsCrunch.

bitsCrunch is headquartered in Munich, Germany, and has operations in India. bitsCrunch helps people to take decisions on purchasing NFTs, added the statement.