Data processing company Ethereum Dune Analytics has raised a string of $ 8 million in funding. Union Square Ventures, a technology-focused venture capital firm, has received October funding from redpoint Ventures, Dragonfly Capital and Multicoin Capital.
Founded in August 2018 by Fredrik Haga and Mats Julian Olsen, Dune allows users to analyze movements on the ethereum blockchain and convert real-time data into bright graphics on the big screen.
Dune is one of many companies and platforms that make cryptography more transparent and turn dense data into analytical information. Including Glassnode, Skew, CoinMetrics, chain analysis, Messari, Nansen and mystery investigation.
And certainly investors have a huge appetite for their offerings. Blockchain analyst firm Chainalysis raised $ 100 million in March as part of a series D funding round led by Paradigm. At the end of June, Nansen, which tracks cash flows through the ethereum blockchain, raised $ 12 million in financing for the Andreessen Horowitz-led series. Messari, which analyzes Kriptorynka data, last month raised $ 72 million in Series A funding led by Point21 Ventures.
“Many different types of interesting statistics in this area are for traders or products, funds or investors. But we want every metric to be kept free for society,”said Fredrik Haga, co-founder of Dune Analytics, deciphering a phone call from his base in Oslo. Dune boards are free for everyone to play, but there is also a premium option for those who want more features such as executing six (instead of three) requests in parallel and skipping the request queue.
Dune was a two-man team until September, when it raised $ 2 million in a Seed Fund round led by Dragonfly Capital. The company has since hired eight employees, Haga said, and will use the tour to build a 25-strong Pan-European team made up mostly of Engineers.
As the Ethereum network has become more fragmented recently, the company needs more engineers
