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Alchemy Launches Public API Having Raised $15M Funding

Blockchain Firm Alchemy has announced the launch of its public application programming interface (API) after having raised $15 million in its Series A funding round.

On Dec. 17 a press release was published by the blockchain firm stating that Alchemy’s platform allows enterprises to build blockchain-based applications.

Excited to share what we’ve been quietly building! Raised $15MM, currently power 1 million users a week in 200+ countries, excited to help developers build great blockchain products! 🎉⚡️🙌 Thanks @JoshConstine from @TechCrunch for sharing our story! — Alchemy (@AlchemyPlatform) December 18, 2019

The funding round was reportedly led by:

  1. Stanford University

  2. Crypto exchange- Coinbase

  3. Samsung

  4. Alphabet chairman- John Hennessy

  5. LinkedIn founder- Reid Hoffman

  6. Yahoo founder- Jerry Yang

Working Towards Mainstream Adoption Through Developers Tools

The firm was founded by Stanford classmates Nikil Viswanathan and Joe Lau along with a team of industry veterans from- Facebook, Google, Microsoft, Stanford, and MIT, and entrepreneurs.

Lau said:

“We realized blockchain technology would develop in the same way, so we’re working to enable mainstream adoption by providing the industry with the high quality infrastructure and developer tools that it needs.”

Viswanathan and Lau believe developer infrastructure is the key to driving mainstream adoption of new technologies. The company intends to use the funds into expanding into international markets.

Alphabet’s Chairman Hennessy commented on Alchemy’s initiative:

“What Alchemy is doing in blockchain has the potential to be similarly transformational, and Nikil and Joe have the deep technical background and proven entrepreneurial track record to make it happen.”

Source: Cointelegraph | Alchemy

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