In a significant development for the burgeoning Web3 space, zbyte, a promising Web3 startup, has successfully raised $4 million in a strategic funding round. Notable investors, including Cartography Capital and Quarterback Financial, led the funding. Additionally, the startup disclosed an extra commitment of $1 million, indicating strong investor confidence in its potential.
The freshly acquired capital is earmarked for various initiatives to expand Zbyte’s influence in the developer community. Among the planned activities are onboarding diverse developer communities, organising hackathons, and facilitating the seamless integration of Web3 into businesses and various domains. These efforts will be spearheaded by the innovative Zbyte platform, designed to empower developers through its unique low-code and no-code capabilities.
Established in 2021 by Nitin Kumar, Krish Kupathil, and Ankush Tiwari, zbyte has positioned itself as a trailblazer in the Web3 landscape. The startup’s primary focus is providing developers the tools to build on existing protocols, leveraging its user-friendly low-code and no-code platforms.
In a simultaneous announcement, zbyte unveiled the launch of its mainnet—a fully developed and deployed blockchain protocol. This milestone achievement is expected to empower Web2 developers to create decentralized applications (dApps) through a modular low-code and no-code approach. The mainnet represents a significant stride towards bridging the gap between conventional Web2 development and the decentralized future envisioned by Web3.
Zbyte’s successful funding round and the launch of its mainnet came at a time when the Web3 space was gaining increased attention and investment. This week, Fetcch, a Web3 and digital rewards app, secured $1.5 million in funding, with AppWorks Venture and Hashkey Capital leading the investment round. The consecutive funding successes of Zbyte and Fetcch underscore the growing momentum and investor interest in the transformative potential of Web3 technologies.
As Zbyte forges ahead with its vision of democratizing Web3 development, the strategic funding and the deployment of the mainnet position the startup as a key player in the evolving landscape of decentralized technologies. The ability to attract significant investment highlights Zbyte’s potential to shape the future of Web3, providing developers with the tools and infrastructure needed to navigate the decentralized frontier.
