The free Ethereum data website Dune Analytics has raised $2 million in its seed funding round, according to an announcement.
The company, which was being operated by a two-person team, has mentioned that it will be using the funds to increase the number of its staff and also expand their offerings.
Dragonfly Capital Leads Dune’s Seed Funding Round
As per the notification released by the company, this funding round was led by Dragonfly Capital and the other firms that have participated in this round were Multicoin Capital, Digital Currency Group, Coinbase Ventures, VC firms and angel investors.
Dune is a website especially for those people, who heavily rely on data. This website manages and looks after whether everything is good with Ethereum blockchain and projects related to it.
The website accumulates Ethereum’s data through its smart contracts and then transforms them into charts, which shows decentralized exchange volume, its users and total transaction on the platform.
Notably, there is another website named Etherscam. The block explorer only provides that transaction history of the blockchain which could be searched easily. However, Dune acts like a tool that explains that history.
Dune Develops Own Chart
Basically, with the help of this website any individual can develop their own chart in order to analyze different projects like Compound or Curve, separately.
Projects like Uniswap and Gnosishave bought the additional access so that they could develop their own analytics dashboard.
With the help of a paid version of Dune, the website might not have chugged a lot, but the founders of the company had believed that with the help of the fund raised from the seed round the website could do more.
Recently the co-founder of Dune, Fredrik Haga stated, “As a profitable company we’ve had the opportunity to be self-sustained but we’ve nevertheless decided to bring in more capital to meet the ever-growing demand, scale up the team and build out even more powerful tooling for the community.”