Web3 startup zbyte raised $10 million in funding led by private investors
- ByStartupStory | July 13, 2022
Web3 startup zbyte announced that it had raised $10 million in a round that was dominated by individual investors. In the fourth quarter of 2022, the startup intends to introduce ZBYT token, its native and public token.
The co-founder of zbyte, Nitin Kumar stated, “We will take advantage of the developer talent here in India. We intend to significantly influence the developer ecosystem. The world is looking to offer better customer experiences, exponential effects from Web3, and new revenue models, he continued. Businesses that integrate Web3 systems are more competitive than those that do not.”
Co-founder of Opentable and WideOrbit and investor at zbyte, Eric Moe said, “Understanding the cloud adoption journey of enterprises, the zbyte team identified missing pieces from the Web3 ecosystem impeding blockchain adoption for developers and enterprises. This ecosystem needs to use a decentralised platform to fill in the gaps. There will be many participants in this significant business opportunity, which will revolve around the value chain. Cryptocurrency investment confidence is still high.”
The startup plans to develop a variety of dApps and use-cases on its platform and will pay its developer community royalties for the dApps they produce.
Also Read – MedTel in talks to raise $10 Mn in Series A funding, Plans to scale india operations
About zbyte :
The startup, which was co-founded by Nitin Kumar, Krish Kupathil, Ankush Tiwari, and Saurabh Radhakrishnan, is creating a decentralised platform that will allow programmers and businesses to create dApps (decentralised applications) based on current protocols.
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