Metrika, a blockchain analytics startup based in Cambridge, has closed a $14 million Series A funding round to expand its operational intelligence platform.
The funding round was led by Neotribe Ventures, with participation from other investors like Coinbase Ventures, Samsung NEXT, Nyca Partners, and SCB 10X. The new capital brings the total funding raised by the startup since its founding to $17.7 million. Kolluri, founder and managing partner at Neotribe Ventures, said about the startup’s potential:
“As distributed ledgers grow in popularity, operational performance management tools will serve as the critical infrastructure required to support this expanding network. Metrika’s elegant architecture fills a critical void in the development, growth, and integration of blockchain; we’re pleased to support the team in this pursuit.”
Metrika serves important companies in the blockchain industries like Algorand, Solana, Dapper Labs (creators of NBA Top Shot), Hedera Hashgraph, and Blockdaemon, allowing them to track and analyze their data via reports and real-time alerts. This improves the efficiency of their networks by detecting degradation in a timely manner. Nikos Andrikogiannopoulos, CEO at Metrika, referred to the need to boost blockchain technology by stating:
“Blockchain technology is having a transformational impact on the world as part of the services we rely on daily, including those from financial institutions, supply chains and our healthcare systems. But the cost of downtime can be catastrophic, and even one failed transaction can erode trust in an entire network. With this new round of funding from our esteemed partners, Metrika is another step closer to delivering on our promise to de-risk blockchain networks for the benefit of all.”
Blockchain has become an increasingly relevant technology for enterprises and individuals around the globe, which has increased the demand for monitoring software. The blockchain analytics startup is planning to become a major leader in the industry, facilitating the advancement and adoption of the technology.