Over 5 Million ETH Locked In Ethereum 2.0 Contract; Ethereum Miners Earn Over $2 Billion for the First Time
AI Trading

A community-driven analytic platform that provides data tools for the Ethereum network, Dune Analytics, has reportedly raised $2 million in a seed funding round.

According to The Block, the round was led by Dragonfly, with participation from Hashed, Multicoin Capital, Semantic Ventures, Alameda Research, Coinbase Ventures, Coingecko, and Digital Currency Group.

The funding round also included some investors in the cryptocurrency ecosystem such as Aave’s Stanislav Kulechov, Gnosis’s Stefan George, among others.

Dune Analytics co-founder Fredrik Haga said in an interview that the innovation that brought about the firm started between him and co-founder Mats Julian Olsen, when they were still working together at a media company based in Norway.

AI Trading

Speaking to The Block, he said, “The key insight we’ve had along the way that’s made Dune so powerful is that when you open it up and just say, ‘This is free and open to the community’ and people can build on each other… That turns into something very powerful, as opposed to sort of a walled garden where only you internally or the customers alone in the siloed fashion interact with the data.”

According to Haga in the interview, these customers include the “easy to reach out to and convince” seed round investors.

He further stated that the funds are needed to scale the team to support the growth of the site and to also meet the demands of the increasing user base.

Haga noted:

“We’re in the position where people are begging us for features, and as a two-man team, we simply can’t deliver on the things our users want. It was very obvious that we would need to scale up the team to serve the demand we’re seeing.

“We’ll definitely be a bigger team. Still fairly contained. Like, a two-pizza team, let’s put it that way.

“So I think, really, growing the team and building more powerful tooling for the community. Having a product that’s more engaging, easier to get started with, and also that allows you to do more powerful analysis and interact with others in an easier manner than you can today.”

Join us on Twitter

Join us on Telegram

Join us on Facebook

AI Trading

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.