Blockscout Secures $3M Seed Funding from 1kx to Enhance Open-Source Blockchain Data Exploration for All EVM Chains

Belgrade, Serbia, August 7th, 2024 — Chainwire

• A recent $3 million seed funding round for Blockscout was led by 1kx, with participation from Primitive Ventures and Gnosis.
• Blockscout’s open-source block explorer offers advanced analytics and multi-search functionalities for over 600 blockchain networks, including notable platforms like Arbitrum, Optimism, and Base.
• The platform has established itself as a preferred solution for Rollup-As-A-Service providers, including Conduit, Gelato, and Astria.

Blockscout, recognized as the leading open-source block explorer for all EVM-based chains, announced the successful closure of its $3 million seed funding round led by 1kx. This round also saw contributions from Primitive Ventures, Gnosis, and a group of angel investors, including Evan Van Ness, Alex Svanevik, Kartik Talwar, Anton Bukov, and Stefan George.

The funding will be directed toward enhancing Blockscout’s product offerings and user experience. Key plans include integrating social features and AI-driven tools directly into the platform’s dashboard. Additional uses for the funds include facilitating the deployment of their Explorer-as-a-Service (EaaS), supporting new projects needing EaaS customization, and strengthening ties with existing blockchain networks. This aligns with Blockscout’s mission to provide essential customizable data to developers and end-users alike.

Block explorers serve an essential role in providing real-time and dependable blockchain data. However, the high costs and limited customizability of many existing explorers have rendered them less accessible. Blockscout aims to revolutionize this model with its open-source, universally accessible tools. With coverage extending to over 600 networks, Blockscout offers a comprehensive product suite for transaction exploration, verification, and inspection, featuring robust developer tools and an intuitive interface for consumers and applications.

“Blockscout will be the default choice for all new and existing EVM chains,” stated Igor Barinov, Founder and CEO of Blockscout. “We are on the path to becoming the primary platform for verifying all blockchain information and safely exploring decentralized applications. As one of the rare open-source entities, we provide unparalleled transparency and accessibility for everyone in the crypto ecosystem, from developers to regular users.”

“Block explorers have long been an essential tool within the web3 ecosystem, providing vital visibility into on-chain activities for developers, analysts, and end users,” said Nichanan Kesonpat, Research Analyst at 1kx. “Blockscout’s open-source EVM explorer enables emerging projects to host their own explorers, offering an affordable alternative to costly EaaS offerings while alleviating the financial burden of creating an explorer from scratch. This is crucial tooling in a modular, multichain world where new networks and appchains can provide users with immediate insights into network activity.”

Chains have the option to utilize Blockscout’s open-source software to operate their own servers or contract Blockscout to manage their explorers. Features such as support for smart wallet transactions and advanced API capabilities have made Blockscout particularly appealing to Layer 2 (L2) solutions. The platform has become the go-to option for RaaS providers like Conduit, AltLayer, Gelato, Chainstack, and Astria, who integrate Blockscout to deliver an out-of-the-box block explorer for their customers.

Significant players in the industry, including Arbitrum, Filecoin, Optimism, Base, and Immutable, are partnering with Blockscout, some of which have collaborated for multiple years. Blockscout has worked closely with Optimism for over two years, providing essential data for the Bedrock upgrade and subsequently receiving acknowledgment from the community through a Retro Grant for their contributions. They also recently announced an integration with Arbitrum One, which simplifies access to data related to DAOs, NFTs, and decentralized applications.

About Blockscout

Blockscout is an open-source block explorer serving all EVM-based chains and is operational on over 600 networks. It features a powerful interface for exploring blocks, transactions, accounts, and tokens, and offers developers tools for smart contract verification along with a suite of optimized APIs. The newly introduced DAppscout marketplace within Blockscout ensures a secure environment for discovering, exploring, and interacting with decentralized applications.

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