Blockchain data indexing platform Satsuma raised $5 million in seed round

Quick Take

  • Satsuma raised $5 million in seed funding co-led by Initialized Capital and Archetype.
  • The blockchain data indexing platform wants to make the lives of web3 developers easier with its tooling.

Satsuma, a blockchain data indexing platform, announced that it raised $5 million in a seed funding round co-led by Initialized Capital and Archetype.

Other investors included OpenSea, Y Combinator, Homebrew and South Park Commons.

Satsuma was founded in March last year and closed the round in May, co-founder and CEO Jonathan Kau told The Block in an interview. The startup waited to announce the equity round as it was focused on building the platform, Kau said.

Satsuma makes it easier to search and analyze data stored on a blockchain, helping developers gain deeper insights into the data such as the total value locked of a DeFi protocol.

"TVL is a pretty complex calculation to make," he said. "You can't just directly call some function on a blockchain and immediately get this answer. You have to do some processing to get this data."

Revenue growth 

Satsuma uses open-source technology from The Graph, a pioneering decentralized protocol for querying and indexing data from blockchain networks. Satsuma, however, is a business entity with a software-as-a-service model and is not a decentralized protocol.

Start your day with the most influential events and analysis happening across the digital asset ecosystem.

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our