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Unmarshal Raises $2.6 Million in a Seed Funding Round

Unmarshal Raises $2.6 Million in a Seed Funding Round

Unmarshal raised $2.6 million in a seed funding round from several crypto industry investors on Friday. Unmarshal announced the raise of capital via a blog post. Moreover, Unmarshal is developing a multichain data indexing network. It will facilitate structured data for industry associates. Also, the network supports Elrond, Polkadot, Ethereum, Binance Smart Chain, and Substrate-based chains. The team anticipates rolling out support for layer-two networks via Polygon, previously known as Matic.

Woodstock, Black Edge Capital, Genesis Block Ventures, NGC Ventures, AU21, Spark Ventures, BitMax and others led the Unmarshal’s $2.6 million funding round. Moreover, various individual investors also participated in the round. It involves Ravindra Kumar and Philip Arthur Moore from Frontier; Sandeep Nailwal, co-founder of Polygon; Aniketh Jindal; Danish Chaudhari and others. Moreover, Unmarshal will develop an advanced network of data indexers that can cater to the complete DeFi ecosystem.

Unmarshal bridges the gap between Blockchains and Application Developers

Unmarshal plays a vital role in bridging the gap between blockchains and application developers to index on-chain data in arbitrary formats. Thus, integrating both quickly and effortlessly. Unmarshal appears to be striving to be a data solution serving out of the box for specific data needs. Moreover, significant Unmarshal data users incorporate all industry participants, from decentralized application projects to exchanges and trading firms. They deliver the data via a variety of mediums like push notifications, WebSocket, or specific dashboards. Furthermore, Unmarshal will also feature a token that it will embed in the ecosystem.

Recently, Unmarshal also declared a strategic partnership with Polygon, formerly recognized as Matic, to introduce rich data indexing. The collaboration will allow application developers to quickly develop and deploy applications like Decentralized exchanges, Lending or borrowing Protocols, and others on Polygon. Developers can now depend on the Unmarshal network to combine with end-points to retrieve rich data. It involved Wallet Balances, Push Notifications, Protocol Positions, DeFi Taxing, P&L Tracking, Historical prices from the Polygon chain. Polygon fixes some of the significant difficulties linked with the existing blockchains, like higher transaction fees, slower transactions.

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