Subsquid Collects $3.8M in Seed Round led by Hypersphere Ventures
We are excited to announce that Subsquid has closed its strategic seed round after an overwhelmingly positive reception. The September investment round, led by Hypersphere Ventures, totals $3.8 million collected from a number of influential Polkadot and crypto investors. We are blown away by the enthusiasm and support shown by our seed investors, whose valuable contributions illustrate the confidence they have in the project. From this, we have a strong foundation to build out what will be the leading API-as-a-service solution in the space.
More than 20 different strategic A-list investors and key-stakeholders in the Polkadot ecosystem recognised Subsquid’s potential, most notably:
💙 Hypersphere Ventures 💙 Zeeprime Capital 💙 Lattice Capital 💙Illusionist Group 💙 DFG 💙 Jsquare 💙 SMAPE Capital 💙 Ox Ventures Signum Capital 💙 BwareLabs 💙 Signal Ventures 💙 D1 Ventures 💙 Faculty Group 💙 DIA Association 💙 Zeitgeist 💙 Chainflip 💙 Astar Network 💙Shiden Network 💙 KodaDot 💙
Dmitry Zhelezov, Technical Co-Founder, on the successful closure of the seed round:
“I want to take the opportunity to thank our early investors for the immense support we have received during this early stage of our project. We are looking forward to rolling out more functionalities in the coming weeks, allowing blockchain developers to harness Subsquid’s next generation technology and take DApps to a new level of speed and functionality.”
Jack Platts, Co-Founder of Hypersphere Ventures, added:
“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.”
With a growing number of top-tier projects implementing Subsquid, we are progressing to the next crucial milestones on the roadmap and hiring additional team members.
Subsquid is already implemented by a number of projects in the Polkadot ecosystem, most notably Chainflip, HydraDX, Joystream, Subsocial, Threefold and Zeitgeist.
We also proudly sponsored the Gitcoin DeFi & Cross-Chain Interoperability Hackathon and the RMRK Hacktoberfest, making waves as we head towards the opening of our Open Ocean Council program and the transition to a DAO.
Simon Harman, Co-Founder of Chainflip, said:
“Subsquid initially approached us to help us with querying our substrate blockchain. Despite being a newer project, the product experience and the user support of Subsquid far outcompeted all alternatives. Subsquid is now an integral part of the Chainflip stack, and we are super excited to be investing in their success.”
We are humbled by the strong support and positive reception and work hard on advancing the development of the protocol as we progress on our roadmap, ensuring that services are continuously improved upon for developers to use all innovative features in production.
Subsquid is a game-changing protocol for DotSama developers that services complex queries in a fraction of the time usually needed thanks to its powerful and unique architecture. Its unique two-tier approach provides developers with rapidly decreasing data retrieval times and boosts API reliability, while its high level of customisability makes it the ideal query protocol for substrate-based projects of any type and scale.