Brandy covers crypto-related venture capital deals for CoinDesk.

Nxyz, a provider of data infrastructure for blockchains, raised a $40 million Series A round led by crypto-focused investment firm Paradigm.

The capital will be used to hire talent, build out support for emerging use cases and to expand across different blockchains, according to the press release. Other investors in the round were Coinbase Ventures, Greylock Partners, Sequoia Capital, and a number of angel investors, among others.

Spun out of the private, ad-free search engine Neeva, nxyz aims to create fast, reliable and scalable blockchain indexing and data infrastructure, taking real-time data directly from the chains and their associated applications. The platform will provide developers with an application programming interface (API) suite to utilize that collected data.

“We created nxyz so that developers can focus on building at scale, and have the fast and simple method for indexing data they need. I’m convinced this is exactly the kind of innovation needed to help ensure the widespread adoption and success of web3,” said nxyz CEO Sridhar Ramaswamy, who will also remain the head of Neeva, in the press release.

Launched earlier this year by a team that includes ex-Google distributed system engineers, nxyz has brought on beta customers and currently supports Ethereum, Polygon, Binance, Avalanche, Arbitrum and Optimism.

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Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.