July 9, 2024
By Sharan Kaur Phillora
Israeli startup SendBlocks has emerged from stealth mode, announcing an $8.2 million seed funding round to transform blockchain data management. The company aims to simplify access to on-chain data for enterprises, ecosystems, and protocols, potentially saving customers thousands of dollars in development costs and significantly reducing time to market.
Led by Castle Island Ventures, the funding round attracted notable investors including Pitango, Illuminate Financial, Laser Digital (Nomura), and Starkware. This strong backing highlights the industry’s confidence in SendBlocks’ innovative approach to tackling blockchain data challenges.
Co-founders Itay Shrem (CEO) and Michael Kellner (CTO), both veterans of Israel’s elite Talpiot program, bring extensive expertise in cybersecurity and cryptography to the venture. Their vision is to create a reality where developers can access any blockchain data without the need for large data teams or exorbitant costs.
SendBlocks’ platform addresses the unique challenges of blockchain data management, offering a fully customizable solution that allows users to define and extract relevant data efficiently. This approach is particularly crucial for high-throughput blockchains, where traditional data management methods often fall short.
“Think of when Taylor Swift tickets go on sale and TicketMaster needs to handle millions of requests simultaneously,” Shrem explained, drawing an analogy to illustrate the scale of the challenge. “The technological challenge of data management in high throughput blockchains is like the transition from supporting smaller, less known, artist ticket sales to being able to support Taylor Swift demand, but all the time.”
As blockchain technology continues to evolve, SendBlocks’ solution could play a pivotal role in making the technology more accessible and manageable for a wider range of users. With its innovative approach and strong financial backing, SendBlocks is well-positioned to lead the next wave of innovation in blockchain data management.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
