Data infrastructure platform Vybe Network scores Series A

Data infrastructure solution Vybe Network has closed its Series A investment round on $10.5m.

The round was led by FTX, with commitments also coming from Sino Global, Staking Facilities, Panony, Tess Ventures, Contango, Canonical Crypto Fund and EBT Group.

Vybe Network enables the Solana blockchain community to query, index and exchange on-chain data to build Web3 dApps and analytics.

The FinTech company claims the capital will aid the decentralisation of data access and storage so any user, regardless of their background or proficiency, can participate in the network and monetise their data, power dApps and gain insights into Solana protocols.

Launched in 2021, Vybe offers software and infrastructure that empowers users to access and utilise both real-time and historical data from Solana. A core part of this is data indexing, where anyone can host and provide data to the network in a permissionless and transparent manner.

Vybe CEO and founder Arun Dass said, “We’ve seen an unprecedented industry need for an infrastructure like Vybe as new innovations in this space are rapidly evolving. This funding will accelerate the delivery of our product, advance developers in experiencing more empowerment and fuel participation in the community.”

Blockchain and cryptocurrency companies raised the most seed funding in April, pulling in $55m in total.

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