[Funding News] Allium Raises $16.5 Million Series A Funding

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Blockchain data is hard, messy, and chaotic. Historically, blockchains have been optimized for getting data onto the blockchain and less for getting data OUT of the blockchain. Allium abstracts the complexity with a simple way to query blockchain data.Whether uncovering the rise of stablecoins with Visa, deciphering tokenization and ETFs for financial institutions, fighting fraud and bot farms, or keeping blockchain apps running at loads of 90,000 qps, it's been a fun past two years.

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“Allium exists to drive trust and transparency in blockchain, to help people understand and build with full confidence,” said co-founder and Chief Executive Ethan Chan. “Currently, something as essential as accurately tracking digital currency volumes requires continually normalizing data across 40-plus blockchain networks and parsing thousands of smart contracts, equating to petabytes of data.”

“At Visa, we seek to both better inform our clients of how people and businesses are using stablecoins for transactions that may be outside of crypto trading activity, and also help inform our work with partners to develop products designed to better serve our clients,” said Cuy Sheffield, head of Visa Crypto. “The Visa OnChain Analytics Dashboard is designed to enable our clients to better understand this activity.”

About Allium

Founded in 2021, Allium provides on-chain data infrastructure products ranging from managed blockchain databases, enriched data schemas, to real-time alerting capabilities.