SendBlocks Secures $8.2 Million to Revolutionize Blockchain Data Management

SendBlocks, a company specializing in blockchain data management, has officially emerged from stealth mode, announcing an $8.2 million Seed funding round. This significant investment was led by Castle Island Ventures with participation from several other institutional investors, including Pitango, Illuminate Financial, Laser Digital (Nomura), Starkware, and other key ecosystem members.

SendBlocks Secures $8.2 Million to Revolutionize Blockchain Data Management
SendBlocks Secures $8.2 Million to Revolutionize Blockchain Data Management

SendBlocks, a company specializing in blockchain data management, has officially emerged from stealth mode, announcing an $8.2 million Seed funding round. This significant investment was led by Castle Island Ventures with participation from several other institutional investors, including Pitango, Illuminate Financial, Laser Digital (Nomura), Starkware, and other key ecosystem members.

SendBlocks aims to revolutionize blockchain data access by offering a fully customizable platform that allows blockchain enterprises, ecosystems, protocols, and applications to efficiently define and extract relevant data. The platform is designed to handle high-throughput blockchains, ensuring robust performance and scalability. By providing clients with access to all on-chain activities, SendBlocks helps developers save billions of API queries, resulting in leaner and more efficient data teams, irrespective of the underlying blockchain.

Castle Island Ventures - SendBlocks

In a statement, Itay Shrem, SendBlocks Co-founder and CEO, emphasized the company’s vision: “We want to create a reality in which any developer can access any blockchain data they desire, without needing an entire data team or spending thousands of dollars per data need to do so.” He drew an analogy to the high demand encountered by ticketing platforms during major events: “Think of when Taylor Swift tickets go on sale and TicketMaster needs to handle millions of requests simultaneously. The site often crashes because the backend isn’t optimized for ‘The Swifties.’ The technological challenge of data management in high-throughput blockchains is like the transition from supporting smaller, less known artist ticket sales to being able to support Taylor Swift demand, but all the time.”

The company was founded by Shrem and Michael Kellner, who serves as CTO. Both founders have spent over a decade in Israel’s prestigious Talpiot program. Kellner holds a Master’s degree in post-quantum cryptography, while Shrem has specialized in network coding and security. Kellner highlighted the broader implications of their work: “Merely scaling the blockchain isn't sufficient; the entire stack must be scalable to support the next generation of applications.”

Sean Judge, General Partner of Castle Island Ventures, expressed his support for the company’s mission: “By providing enterprises, ecosystems, and protocols easy access to on-chain data, SendBlocks enables customers to save tens of thousands of dollars per month in development costs and reduce time to market from months to weeks. Itay and Michael’s cyber-security and cryptographic backgrounds make them the perfect duo to deliver on their vision to change the way businesses manage their blockchain data.”

Currently, SendBlocks boasts a team of nine professionals hailing from notable web2 enterprises such as Microsoft, AWS, and Talpiot, as well as web3 companies like Bancor and Algorand. Among their existing clients are Bancor and SphereX, though some clients remain undisclosed.

The funding will be utilized to further develop and enhance the platform, ensuring it can meet the increasing demands of the blockchain industry. The goal is to provide a seamless and efficient data management solution that can handle the scale and complexity of high-throughput blockchains, paving the way for the next generation of blockchain applications.

As the blockchain industry continues to evolve, the need for robust and scalable data management solutions becomes increasingly critical. SendBlocks is poised to address this need, offering a platform that not only simplifies data access but also significantly reduces costs and development time. With their innovative approach and strong backing from top investors, SendBlocks is set to make a substantial impact on the blockchain data management landscape.

The journey ahead for SendBlocks will be closely watched by industry experts and stakeholders alike. The company’s ability to deliver on its promises and drive significant improvements in blockchain data management will be key to its success. As they move forward, the team at SendBlocks is focused on refining their platform and expanding their reach, aiming to become the go-to solution for blockchain data management needs.

In conclusion, SendBlocks’s emergence from stealth mode with substantial funding marks a significant milestone in their journey. The company’s vision and innovative approach, coupled with the expertise of its founders and the support of leading investors, position SendBlocks as a promising player in the blockchain data management space.