German Blocktorch secures ＄4.2M in a seed round joined by Speedinvest and RockawayX
12 May, 2023, 12:22
Berlin-based Web3 observability platform Blocktorch has secured $4.2 million in a seed funding round led by IDEO CoLab Ventures. Among others, the round also saw participation from the Austrian early-stage fund Speedinvest and Czech Web3 fund RockawayX, Tech.eu reports.
- Founded in 2022 by Amine Afia and Gerald Pollak, Blocktorch provides Web3 developers with an observability platform. It can help understand the behavior of their decentralized applications and root out possible errors.
“We are more than happy to back the talented team behind Blocktorch in building the observability platform for the decentralised stack, covering all observability pillars, and empowering developers to scale every decentralised component globally and serve billions of users reliably,”Yang Tran, Senior Associate at Speedinvest, comments.
- Speedinvest participated in the funding round. It is a leading European early-stage venture capital firm based in Vienna, Austria. Launched in 2011, Speedinvest now has over €1 billion assets under management.
- RockawayX also joined the round. It is a Prague-based blockchain-focused venture capital fund, with long-term focus on value creation. The firm invests globally into leading crypto funds, companies, and protocols.
- Other notable backers included the lead investor Ideo CoLab Ventures, as well as Alchemy Ventures and Remote First Capital. Several angels like Bryce Ferguson, Charlie Songhurst, Simon Jones, Andreas Klinger, Max Stoeckl, Henry Chen, and Felix Wolf also participated.
- The fresh capital will help Blocktorch grow its engineering and commercial teams ahead of the official launch of the service.