Vybe Network Did Raise $13.1 Million CAD For Solana’s Data Platform Solutions

• Vybe is a software and infrastructure company founded by Arun Dass (CEO) and Eoin Brady (COO) in the summer of 2021 that allows users to access and utilize both real-time and historical data from the Solana blockchain.

• The Graph Foundation, which promotes the expansion of The Graph, a network that acts as a searchable index of blockchain data, has awarded StreamingFast a $73.5 million CAD grant. Round13 Capital, a venture capital firm, announced last month the launch of a new $70 million USD fund to promote blockchain and Web3 infrastructure startups.

• As new ideas in this field rapidly evolve, we’ve witnessed an unparalleled industry need for infrastructure like Vybe, said Dass. With this funding, we will be able to provide our product faster, give developers more authority, and encourage community participation.

Vybe Network, a Burnaby startup, has raised a Series A round of $13.1 million CAD ($10.5 million USD) sponsored by bitcoin exchange FTX. Staking Facilities, Serum, Panony, Tess Ventures, Contango, Canonical Crypto Fund, EBT Group, and Sino Global also participated in the funding, which was also an investor in Vybe’s $2.5 million seed round in January.

An Unparalleled Industry Need For Infrastructure 

Vybe is a software and infrastructure company founded by Arun Dass (CEO) and Eoin Brady (COO) in the summer of 2021 that allows users to access and utilize both real-time and historical data from the Solana blockchain. The Vybe app and Serum Analytics are two of the company’s products. One of the essential components in Vybe’s product range, according to the company, is data indexing, which allows anyone to host and provide data.

As new ideas in this field rapidly evolve, we’ve witnessed an unparalleled industry need for infrastructure like Vybe, said Dass. With this funding, we will be able to provide our product faster, give developers more authority, and encourage community participation.

StreamingFast Gets A $73.5 Million CAD Grant

This new financing is designed to aid in the democratization of data access and storage, enabling any user—regardless of background or proficiency—to participate in the network and monetize on sharing their data, according to Vybe. Vybe joins a growing list of Canadian firms that provide data infrastructure for Web3 platforms.

Dfuse, based in Montréal, rebranded as StreamingFast last year as part of a corporate pivot to assist a blockchain infrastructure initiative dubbed The Graph. The Graph Foundation, which promotes the expansion of The Graph, a network that acts as a searchable index of blockchain data, has awarded StreamingFast a $73.5 million CAD grant. Round13 Capital, a venture capital firm, announced last month the launch of a new $70 million USD fund to promote blockchain and Web3 infrastructure startups.

ALSO READ: Solana Rolls Out $100M Investment And Grant Fund To Support South Korean Web3 Startups

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.