PARSIQ Raises $3M in Venture Round With Solana and Others

Jun 16, 2021 0 comments

PARSIQ, the blockchain monitoring and workflow automation platform has just raised $3 million in a strategic venture round. The capital is funding a Series A round and the funds came from leading venture investors from the cryptocurrency industry.

Solana Foundation was one of the first brands that backed the funding round. It was joined by Mindworks VC, Axia8 Ventures, CoinUnited, Elevate Ventures, Krypital Group, Transfero Swiss, Sanctum Ventures, and others.

Director of Research at Facebook Novi Financial Evan Cheng, contributed to the round as an individual investor. Thus, this venture round marks the first time that PARSIQ got funds from institutional investors. Before this, most funds came from public token sales.

The PARSIQ team aims to obtain new strategic partners via this venture funding round. In fact, with more influential partners, the brand can better position itself in the crypto space. In turn, PARSIQ offers major players a stake in the project’s success.

Moreover, the brand will work with these new investors to boost product development, amplify marketing strategies, and increase its knowledge base by learning from their expertise. Specifically, the team believes that collaborating with Solana Foundation to bring Smart-Triggers to the latter’s ecosystem will be highly fruitful.

In particular, the Smart-Trigger technology will allow users to easily read and respond to blockchain data. More so, they can do so without the need to develop custom solutions. Presently, PARSIQ supports major blockchains such as Bitcoin, Ethereum, Solana, Binance Smart Chain, and more.

CEO of PARSIQ, Tom Tirman says,

We are excited to have received the support of this diverse and highly regarded set of crypto ecosystem participants. While our runway was more than sufficient from our earlier raise, we felt that to guarantee the success of our project, we needed additional support from major players. With their help, we will be able to mount the strongest marketing and development push for PARSIQ yet.

Additionally, the CEO of Solana Labs, Anatoly Yakovenko says it is great to have reliable and simple access to blockchain data on Solana. Mostly as it means that projects building on their platform will have fewer worries in building out their stack, therefore, allowing them to concentrate on their product. More so, he says PARSIQ helps bridge the off-chain and on-chain world.

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