Blockchain data visualization firm Bubblemaps raises $3.2 million in seed funding

Bubblemaps, a Paris-based startup specializing in blockchain data visualization, secured $3.2 million (€3 million) in seed funding. 

Venture firm INCE Capital led the round, which had additional participation from Stake Capital, Momentum 6, Lbank, V3ntures, Nicolas Bacca from Ledger, Dyma Budorin from Hacken and the French influencer and entrepreneur Owen 'Hasheur' Simonin. 

Bubblemaps plans to use the funding to expand its team and accelerate growth, particularly with hiring more developers, as well as bolstering the firm's marketing efforts across social media platforms. 

"We want to be the main visual platform for on-chain data, with not only the bubble map but other kind of visuals, and expanding out of this first, powerful product that we've created — sticking to the theme of unique, playful and interactive," Bubblemaps CEO Nicolas Vaiman told The Block in an interview.

Bubblemaps currently supports Ethreum, Binance Smart Chain, Fantom, Avalanche, Cronos, Arbitrum and Polygon. It's in communications about adding Coinbase's Layer 2 blockchain Base as well as TON and Aurora. 

Bubblemaps was founded in late 2022 by Nicolas Vaiman and Léo Pons, the firm's Chief Technology Officer. The team also includes Arnaud Droz as Chief Operating Officer and Cameron McIntosh as Chief Marketing Officer.

Bubblemaps's future plans

Within the next 18 months or so, Bubblemaps hopes to add three main features to the platform. The first is to follow token distribution all the way back to when it was first created and held in a single wallet before dispersing, which Vaimon called "Code Name: Big Bang."

Second, to give users the ability to create any Bubblemap of wallets they choose, creating visual representations of curated wallets as opposed to spreadsheets. "Bubble Labs," as the feature is called, will be aimed at supporting on-chain sleuths, marketing agencies and others who want to draw specific conclusions from certain wallets. 

The third would be to integrate AI that can explain the meaning behind certain wallet clusters on Bubblemaps, designed to help crypto beginners understand the on-chain transactions. 

The firm likely will not fundraise again until completing these milestones.

"We really want to focus on actually achieving this inner road map that we have, this way of spending what we've raised, and then look into, of course, raising again," McIntosh told The Block in an interview.

"It's all well and good receiving funds, but we want to do it accordingly," he added. "We want to make sure we're building the product people want."