Parsec Raises $4 Million in Investment Round Led by Galaxy Digital
Parsec, an on-chain DeFi and NFT analytics platform, has secured $4 million in an investment round. The round was led by billionaire pro-crypto investor Mike Novogratz’s Galaxy Digital. Other key investors include decentralized exchange (DEX) Uniswap, Robot Ventures, CMT Digital, and several others. Parsec also mentioned Will Price, Rice Maximalist, and Freddie Framer as part of its angel investor teams.
Providing Transparent Data for Crypto Institutions
Since its launch in 2020, Parsec Finance has been focused on providing transparent and practical data to crypto-facing institutions. The platform allows users to access verifiable information across multiple blockchain networks and layer-2 scaling solutions as liquidity rapidly moves. This mission has attracted the attention of crypto investment heavyweights like Polygon Capital and Galaxy Digital.
Expanding User Base with New Features
The recent funding will be used to expand Parsec Finance’s user base. The platform recently launched its Teams feature, which allows individuals in an organization to use shared resources like private address labels, layouts, and the Parsec API. The API rolls up curated data into a Python SDK for easy retrieval by data teams.
Focused on Product and Team Building
Parsec Finance has prioritized providing real value to the DeFi and decentralized economy over rushing to the market. However, the recent raise will accelerate the platform’s plans. Parsec aims to expand its team and roll out more on-chain tools for users to utilize. Its customizable and modular dashboard, with 110 customizable components rendered in real-time visualizations, sets it apart from competitors like Nansen and Messari.
Expanding On-Chain Presence
Parsec Finance currently offers its services on Ethereum, Arbitrum, Optimism, Base, zkSync, Avalanche, Canto, and Mantle. The protocol plans to expand its on-chain presence to at least five to ten blockchain networks, including Polygon, Scroll, Monad, dYdX, and Berachain.
Hot Take: Parsec Raises $4 Million to Expand On-Chain DeFi and NFT Analytics Platform
Parsec Finance has successfully raised $4 million in an investment round led by Galaxy Digital. The funding will be used to expand the platform’s user base and develop new features. Parsec’s focus on providing transparent data for crypto institutions has attracted the attention of major investors in the industry. With its customizable dashboard and real-time visualizations, Parsec sets itself apart from competitors. The platform also plans to expand its on-chain presence to multiple blockchain networks. This recent raise marks an important milestone for Parsec as it accelerates its plans for growth and development in the decentralized finance and NFT analytics space.
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