Dune Analytics – a free blockchain research tool – recently announced an additional $69 420 000 in funding. The round was led by Coatue – a global investment manager focused on tech.
- According to an announcement from Dune’s blog, the funding will be used to empower another generation of “Dune Wizards” – aka Web 3 data analysts. The group currently only has 16 employees, but will now be hiring many more.
- While Dune currently provides free blockchain data, it will now invest in educational resources to help average people interpret that data. This will be especially important as blockchains scale and their use-cases expand.
- The tool also plans to revamp its query engine, speeding up its execution time and allowing for support across all major blockchains.
- Users will be enabled to bring both public and private data into Dune.
- Lastly, the team plans to release a Dune API, allowing “boundary-less research, building, tinkering, trading, and beyond.”
- Months ago, FTX exchange exploited the same meme-numbers during a funding round: The numbers were reversed, however: $420.69M raised in a Series B funding round, dwarfing Dune’s recent figures.
- Still, the round indicates a massive funding increase compared to the $8 million the firm received in August.