SaaS startup MakerDojo raises $1.5 million in funding led by Leo Capital
Summary
Blockchain SaaS startup MakerDojo.io on Tuesday said it has raised $1.5 million in funding led by Leo Capital and participation from US-based investors -- UP2398 and Jan M Leeman.The startup has become the first addition to the portfolio of Leo Capitals $125-million Fund III, which had its first close last month.Founded in 2021 by Priyank Chodisetti, a Stanford alumnus and former tech executive at Google and Coursera, and Vignesh Aigal and Ajay Chintala, MakerDojo intends to simplify the complex, error-prone, and capex-heavy blockchain data extraction process for developers.MakerDojo.io said it will use the latest round of funding towards talent acquisition and product innovation to expand offerings for all major blockchain protocols.As Web3 matures, we believe data-driven development would be essential to reach its full potential. We have seen in our early customers the challenges of accessing blockchain data and the effort it takes to draw insights. Through MakerDojos platform, we aim to simplify accessing Web3 analytics while reducing the barrier to entry, said cofounder Chodisetti.The startup claims to provide an AI-backed web3 data analytics platform that enables enterprises and developers to draw insights and run queries for their apps seamlessly.Commenting on the investment, Ravi Srivastava, partner, Leo Capital, said, MakerDojo makes it accessible to draw insights by providing an AI-backed data platform for Web3. Priyank, Ajay, and Vignesh are among the best when tackling large-scale data systems and bringing their deep expertise to the web3 ecosystem. Were delighted to partner with them.Currently, MakerDojos solution supports blockchain protocols like Celo, Ethereum, Polygon, and NEAR.