Blockchain startup Token Flow raises $12m in Series A

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15.11.2022
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Token Flow, the startup that takes blockchain data analytics to a whole new level, has concluded the first closing of its series A financing round with $12 million to expand its state processing technology. The startups plans to launch the solution by the end of this year upon completing its ongoing beta program.

There are several blockchain data sources available, but most are fairly limited and provide basic data easily available from blockchain nodes. Token Flow Insights AG was incorporated in 2021 to help customers extract new and valuable insights from an expanding universe of blockchain data, thereby enabling what has always been considered impossible – full historical analysis of the blockchain state at any point in time.

“We provide users with more data than is available even with a full archive blockchain node, in an easily queryable format. This allows much deeper analysis that is more reliable and efficient than current approaches,” explains Arran Kitson, Co-Founder & CEO of Token Flow Insights SA.

Token Flow’s proprietary transaction processing technology allows users for the first time to easily analyze every smart contract variable, including hashmap keys and complex structures. The solution multiplies the productivity of data analysts, security researchers, and developers, allowing them to perform new types of valuable analysis previously difficult or infeasible. The platform is also more efficient than call and event-based analysis and reduces the complexity and errors that are frequent with such an approach.

In just one year, the company has launched the beta versions of data products for Ethereum, Goerli and StarkNet, and has already served tens of thousands of queries from DeFi protocols, centralized exchanges, DAOs, and analytics platforms. Following the completion of the beta program, which is anticipated to complete in Q4 2022, the company will launch new datasets and analytical tools, and expand to new chains.

The New investors Electric Capital and Delta Blockchain Fund joined the existing Seed investor UDHC. The funds will flow into product development by increasing coverage of other blockchains with a focus on the Ethereum ecosystem, and adding new higher level datasets for existing and new blockchains that will give much more context to what is happening on-chain. As part of this expansion, the startup plna to grow the team to occupy the vacancies across data engineering, DevOps, ecosystem development and more.

In line with the financing round,  Ken Deeter of Electric Capital is joining Token Flow’s Board of directors. He said: “As blockchain-powered applications proliferate, tools that enable deep analysis of on-chain data will become indispensable. By vastly simplifying complex analyses, we believe Token Flow's data platform unlocks a new level of capability and efficiency for developers, investors, DAOs, and institutions. We are very excited to work with the team to help up-level the data sophistication of the entire Web3 ecosystem”, said Ken Deeter, Partner at the round’s lead investor Electric Capital.

(Press release/RAN)

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