SolanaFM Secures a Seed Funding Round Worth $4.5M

Godfrey Benjamin  Aug 28, 2022 18:10  UTC 10:10

2 Min Read

World-class Blockchain explorer SolanaFM has secured a seed funding round worth $4.5 Million in partnership with various leading venture capital firms.

According to the press release, the blockchain firm is also partnering with various Web3 companies to provide them with a suite of APIs.

SolanaFM has often offered blockchain services that go beyond being an explorer in the web3 ecosystem. The firm deploys various tech tools that facilitate the growth and operations of businesses in the financial services sector and compliance firms.

The amount generated from the funding round will be used to develop the services of the blockchain firm and also improve the quality of its manpower.

The seed funding round was achieved with the partnership of the following venture capital, Spartan Group, Petrock Capital, Zee Prime, and FT capital, amongst many other investors.

According to the statement, this funding round however is said to have been achieved because of the influence of SBI Group's Digital Asset Opportunity Fund.

The CEO of SolanaFM, Nicholas Chen noted that the firm prides itself in developing web3 technologies that are simplistic and that humans can easily interact with. He added that this core value will inspire every upgrade and development that the company will witness in the future.

The Chief Operating Officer of SolanaFM, Fathurrahman said that the firm is excited to have its various investors sponsoring this vision. He further noted that the achieved funding will be used to expand the manpower of the firm and also “support significantly faster development lifecycles and serve Solana users the general-purpose data tools they deserve”.

SolanaFM however has achieved various strides in the blockchain ecosystem, fully deserving all the attention it enjoys from investors.

In December last year, the blockchain firm secured a reasonable investment fund that was spearheaded by Coinhako and Etherscan. For reasons best known to the parties involved, the exact amount of the investment and for what purpose remains obscured.

In early June, in compliance with its innovativeness core value, the firm announced the release of a new upgrade to its explorer.

Image source: Shutterstock

Animoca Brands' Japanese Unit Raises $45m

Read More