News Briefs

FTX leads $10.5m round for Vybe Network to support Solana blockchain

Canadian company offers a data infrastructure solution for the Solano blockchain.

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  • Vybe allows users to utilize and access data from the Solana blockchain
  • Other investors include Canonical Crypto Fund, Contango, EBT Group, Panony, Serum, Sino Global, Staking Facilities and Tess Ventures
  • Company was founded in 2021 by CEO Arun Dass, a former data engineer and blockchain instructor

Vybe Network, which offers a data infrastructure solution for the Solana blockchain, said it raised $10.5 million in series A funding. The round was led by FTX with participation from Canonical Crypto Fund, Contango, EBT Group, Panony, Serum, Sino Global, Staking Facilities and Tess Ventures.

Vybe, based in Burnaby, British Columbia, allows the Solana blockchain community to index, query, and exchange on-chain data to build Web3 dApps and analytics.

“We’ve seen an unprecedented industry need for an infrastructure like Vybe as new innovations in this space are rapidly evolving,” founder and CEO Arun Dass said in a press release.

The funding will be used to support the decentralization of data access and storage, which will allow any user to participate in the network. “This funding will accelerate the delivery of our product, advance developers in experiencing more empowerment and fuel participation in the community,” Dass added.