CPE News (6.27.2024) – Covalent has raised $5 million in a strategic funding round led by RockTree Capital with participation from Asian investors including CMCC Global, Moonrock Capital, and Double Peak Group.
Vancouver based Covalent is Covalent is a technology company that is solving the huge infrastructure problems inhibiting blockchain adoption. The company is “dedicated to solving the Long-Term Data Availability and the verifiability problem in AI.”
photo credit: Covalent
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Welcome to the New Covalent: A Bold Rebrand and Exciting Growth Ahead With $5M Funding
Covalent reveals a major rebrand under The New Dawn initiative and closes a $5M round to fuel growth in APAC, enhancing AI and Long-Term Data Availability.
2024-06-26
Covalent is thrilled to announce some significant updates to the community. As part of the ongoing New Dawn Initiative, we’re revealing a major rebrand that represents a crucial moment in our evolution. Alongside this transformation, we are also announcing the successful closing of a $5 strategic funding round to drive our Go-To-Market push into the APAC region, supporting Long-Term Data Availability in China, Korea, Singapore, and more.
Embracing a Fresh New Look
We have fully embraced a vibrant new look with neon green and blue, reflecting the bold spirit of the world and our commitment to innovation. This transformation aligns us closer to our crypto-native community, marking another milestone in our journey.
Why the Rebrand?
Covalent’s mission has always been to democratize access to all blockchain data, empowering builders to shape a decentralized future. This rebrand is a crucial part of our New Dawn Initiative, which includes a series of upgrades designed to strengthen our commitment to Data Availability and Decentralized AI. It symbolizes our renewed dedication to this mission and highlights our continuous evolution in the Web3 ecosystem.
$5 Million Strategic Funding
Covalent is also excited to announce the successful closing of a $5 million strategic funding round led by by RockTree Capital with participation from prominent Asian investors including CMCC Global, Moonrock Capital, and Double Peak Group. By making blockchain data more accessible and scalable, Covalent aims to provide the most robust data infrastructure to cultivate blockchain and AI innovations in these regions and beyond.
With the backing of top regional investors, developers and users in Asia can now leverage the Covalent Network’s Ethereum Wayback Machine and our extensive dataset to innovate and scale like never before.
For more detailed insights on these exciting developments, we invite you to read our latest feature on The Block.
We appreciate your continued support as we implement these transformative changes. The New Dawn is nearly complete, promising to revolutionize our approach to blockchain data.
Stay tuned for more updates!