Blockchain data indexing and query platform, The Graph (Token GRT) has raised USD 50M in funding from Tiger Global Management on 20th Jan 2022. Blockwall Digital, Fenbushi Capital, FinTech Collective, and Reciprocal Ventures also participated in the round.
The fund was secured through a strategic GRT sale from its treasury in order to aggressively onboard the brightest minds in web3. The fund will also be utilized in strengthening its indexing and query platform for developers and will support grants core development efforts, protocol R&D, and provide a runway for the strategic initiatives of the Foundation.
The Graph has the potential to become a generational protocol. We expect to see an exponential increase in the data being stored on blockchains, especially given the pace at which the trillion dollar market has been growing over the past year. The Graph is one of the most important pillars of the decentralized web.John Curtius, Partner at Tiger Global
With the likes of Tiger Global and other four funds, it represents a very strategic mix of talent across varied geographies and it will help The Graph ecosystem by participating in the network, backing the community, and advocating for the adoption of web3—worldwide. Blockwall connects The Graph ecosystem across Europe, while Fenbushi Capital doubles down on global ecosystem collaboration by increasing participation in Asia. Fintech Collective bridges the gap between both traditional technology and financial technology, bringing valuable experience championing new tech.
Together, the five funds bring vital tech relationships that the ecosystem will leverage to identify the world’s top web development talent across the globe and bring that expertise to The Graph Foundation in their mission to build a powerful, accessible, scalable and secure Web3.
Those who are new to this, simply understand, The Graph wants to become the Google of Web3. And to do so, The Graph needs to build an ecosystem of tools and technologies to make Web3 more powerful, accessible, and scalable for the community of Web3 developers. With this new inflow of funds, The Graph Foundation will scale its team and bring talented people to solve complex and very important problems of centralization, security, and scalability in the Web3 world.
The Graph Foundation will focus on improving node infrastructure, database scaling, zero-knowledge proofs, verifiability, multi-blockchain, protocol economics research, subgraph API development, and more.