Singaporean blockchain explorer SolanaFM secures $4.5 million in seed funding

Oluwajuwonlo Afolabi -

SolanaFM, a Singaporean blockchain explorer providing indexing and analytical services, has secured $4.5 million in its seed funding round led by SBI Group's Digital Asset Opportunity Fund.

  • The fund will be used to enhance SolanaFM's services and increase its talent base to meet the rising demands and responsibilities. It currently has 25 staff members majorly working in engineering and others working on business growth and development.
  • SolanaFM is a blockchain explorer providing multi-services including indexing data for protocols within the Solana ecosystem. It also provides business support for enterprises outside the ecosystem such as banks and compliance companies to get fast and equitable data.
  • It has partnered with GameFi and DeFi companies like Genopets and Raydium and also provides APIs for top compliance companies. It attributes its continuous growth to its innovations, friendliness and data accessibility and is now also working with research and staking companies.
  • Zee Prime, Spartan Group, Mirana Ventures, Petrock Capital, K3 Ventures, D1 Ventures, FT Capital, 3Chaps, and a clutch of angel investors participated in the round.