Blockchain deployment platform Zeeve on Tuesday said it has secured a seed funding of $2.65 million (around Rs 20.4 crore) from Leo Capital and Blu Ventures.
The startup plans to use the fresh funds to scale its product portfolio, ramp up the tech team and expand reach to decentralized app developers and global firms.
Founded in 2021 by Ravi Chamria, Ghan Vashistha and Sankalp Sharma, Zeeve is a blockchain infrastructure-as-a-service platform that helps enterprises and blockchain startups build, deploy and manage reliable decentralized apps, blockchain nodes and networks.
Zeeve's solution supports blockchain protocols like Bitcoin, Ethereum, Polygon, Binance Smart Chain, Tron, Avalanche and Fantom, among others.
“The internet has come a long way - from the simple web pages of Web1.0 to the decentralized Web3.0. Lots of exciting innovations have happened in the Web3.0 space like DeFi, NFTs, decentralized insurance, prediction markets, etc. With further advancements in blockchain technology, we may soon see Web3 utilized for everything from online commerce to voting and governance,” said Ravi Chamria, chief executive officer , Zeeve.
“Web3 infrastructure is complex and there is a dire need to bring in the DevOps tools and platforms in the blockchain space to drive enterprise adoption of blockchain” says Dinesh Singh, Partner, Leo Capital.
“In this new era of the internet, companies like Zeeve play a pivotal part in making it easy for enterprises and blockchain startups to deploy blockchain nodes and consume APIs to connect with blockchains. Zeeve's offering helps DevOps teams ease their operational, security, and performance challenges while deploying and managing Blockchain nodes and networks”, said Tarun Upaday, Partner, Blu Ventures.
Leo Capital is an early-stage venture fund established in 2017. Some of its investments include automation testing platform Lambdatest, diabetes management startup BeatO, logistics firm Vahak, and gaming platform Bombay Play.
Blu Ventures is a venture capital firm that seeks to invest in companies across software, information technology, materials, software as a service, cybersecurity and internet of things, among others.
Investments in emerging technologies such as Web3 and cryptocurrency increased to over $500 million in 2021 from $20 million in the previous year even as consumer technology, fintech, and software-as-a-service (SaaS) continued to account for a substantial pie of the total venture capital (VC) investments by value, according to a Bain & Co report.