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Polychain Capital Leads web3 Dev Tool Provider Cubist’s $7 Million Raise

Cubist secured $7 million in a seed round for its project which aims to help make web3 development easier.

The seed round is led by Polychain Capital and also sees participation from Dao5, Polygon, Axelar, Amplify Partners and Blizzard, the company said in a release.

The idea for the startup formed from the co-founders recognition that a lot of their academic work exploring how to build secure systems applied to the web3 space.

The startup is hoping to ride the wave of the web3 industry professionalizing and making a move toward adopt development best practices such as continuous integration and deployment as well as strong documentation. It will earn revenue from offering enterprise features to businesses.

The seed round closed in July. The funds from the round will be put toward hiring as well as scaling and publicizing the SDK.

(By Kari McMahon)

Web3
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