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Decentralized app development platform Dfuse raised $3.5 million from Multicoin Capital, Intel

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Canada-based, Blockchain application program interface (API) platform — Dfuse, has raised a whopping $3.5 million in a seed funding round led by Multicoin Capital and Intel — according to InWara’s Market Intelligence platform.

US-based, Multicoin Capital is a Venture Capital firm that focuses exclusively on Blockchain and crypto startups. The firm believes it’s thesis-driven, long-term investment strategy in ‘tokens’ will pay-off in the long run by betting on the chance that these investments will reshape entire industry sectors.

The company has previously, invested in several blockchain/ crypto startups like SpringLabs and Helium. Leading a $15 million series C funding round in Helium and participating in a $23 million series A funding round in Springlabs. Being a crypto-native fund, Multicoin Capital aims to combine the active style of public market managers with Venture style market, tech diligence of Venture Capital firms.

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Source: InWara’s Market Intelligence platform

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Staying true to the venture style of VC firms, a majority of the firm’s investments are in early-stage tech startups with a few investments in much more mature stages like Series B and C. A breakdown of Multicoin Capital’s investments in Blockchain and crypto startups would look like — 34% Series A funding rounds, 22% Venture rounds, another 22% seed funding rounds, 11% Series B funding rounds, and another 11% in Series C funding rounds.

Dfuse’s vision for the future?

In essence, Dfuse is an API platform that makes it possible for developers to rapidly build decentralized applications or Dapps. Its platform provides a whole suite of interesting features including open-source Github library for quick integration, a bespoke block explorer to navigate the blockchain, and around-the-clock customer support. 

Dfuse has four main product offerings — dfuse Stream, dfuse Lifecycle, dfuse Search, and dfuse On Demand Networks, together these products provide the Web3.0 data stack for building the next generation of applications on the Blockchain.

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