Nxyz Raises $40M to Unlock Faster Blockchain Indexing

Nxyz, a blockchain indexing startup, has announced it raised $40 million in Series A funding led by Paradigm, with Coinbase (NASDAQ:Coinbase-global id=63481445ef56c class=aqlink js-hover-me hoverme=aql data-pairid=1172292>COIN) Ventures, Greylock Partners, Sequoia Capital, and others also participating. Angel investors like Balaji Srinivasan, Jaynti Kanani, Jing Wang, Packy McCormick (NYSE:MKC), Surojit Chatterjee, Ryan Selkis, and others also invested.

Nxyz said it’s going to use the funds to hire more employees globally, build robust support across emerging use cases, and expand across different chains.

“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. The platform, which is built by a team that includes ex-Google distributed systems engineers, provides fast, flexible, and real-time blockchain data within less than 200 milliseconds. According to nxyz, the high throughput directly benefits applications like wallets and NFT projects.