Crypto Investment Firm Cypher Capital Backs bitsCrunch's Record-Breaking $2.4M Funding

Crypto Investment Firm Cypher Capital Backs bitsCrunch's Record-Breaking $2.4M Funding

By Press Release, 25 January 2024

Cypher Capital, a leading multi-strategy crypto investment firm headquartered in the United Arab Emirates (UAE), co-led a $2.4 million strategic investment round in bitsCrunch, a global data analytics firm specialising in multi-chain insights and forensics for NFTs and digital assets.

Backed by Coinbase Ventures, Animoca Brands, Chainlink, Cypher Capital, Capital, Morningstar Ventures, Shima Capital, and others, bitsCrunch is an AI-powered, decentralised NFT data platform that enables developers to build reliable NFT applications (dApps).

The company is pioneering crypto data forensics to allow retail, institutional, and venture investors to make better decisions about crypto assets.

As an early-stage venture focused on crypto, blockchain, and digital asset-related projects worldwide, the investment strengthens Cypher Capital's commitment to empowering and supporting innovative Web3 infrastructure and applications that drive the new digital economy. 

Cypher Capital Chairman Bill Qian states: “We are excited to partner with Vijay and his team at bitsCrunch. They are solving the transparency problem in the NFT space through AI and data analytics, which will further enhance the user experience and trust.”

bitsCrunch recently set a record on CoinList by achieving the fastest sale in history, raising an additional $3.85 million in just 24 minutes (translating to $160,000 each minute).

The community-driven event drew participants from 163 countries, marking the most diverse sale in CoinList's history. The 5x oversubscribed funding underscores the widespread interest and confidence in bitsCrunch's vision.

bitsCrunch CEO, Vijay Pravin, states: “Cypher Capital has been a great value add for bitsCrunch, especially connecting us to a lot of their Venture Partners and introductions to their portfolio companies. They have been one of the very few active VCs in the last bear cycle. This investment round strengthens our ability to scale across multiple chains in the coming years.”


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