Total amount raised
$9.2 Millions
Latest funding date
05/01/2022
Location
Title
Questbook has successfully raised significant funding over multiple rounds, attracting attention from top investors. The platform offers a unique solution for verifying data from any website quickly and securely.
Keep reading to explore the intricacies of Questbook's fundraising journey and the investors backing this innovative platform.
What Is Questbook?
Questbook, founded in 2021, is based in San Francisco. The company was established by founders such as Gaurav Maken and Prashant Singh.
Questbook specializes in providing a protocol that allows users to verify any data on the internet quickly and securely. Their innovative approach enables users to generate proofs of any data from any website in less than 6 seconds.
With a growing team, Questbook continues to expand its capabilities and reach, aiming to revolutionize the way data verification is conducted online.
How Much Funding Has Questbook Raised?
- Series A Funding Round
- Amount Raised: $8.3 million
- Date: May 2022
- Lead Investors: Lemniscap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale efforts in helping web3 developers secure funds, increase grant disbursements, and support local talent globally.
Questbook has raised a total of $8.3 million in funding. The current valuation is not publicly disclosed.
Key Investors
- Lemniscap
- Details: Lemniscap is a venture capital firm that specializes in blockchain and cryptocurrency investments. They led Questbook's Series A funding round.
- Investment Focus Areas: Blockchain, cryptocurrency, decentralized finance.
- Notable Investments: Not publicly disclosed.
- Coinbase Ventures
- Details: Coinbase Ventures is the investment arm of Coinbase, one of the largest cryptocurrency exchanges in the world. They focus on early-stage cryptocurrency and blockchain startups.
- Investment Focus Areas: Cryptocurrency, blockchain, decentralized applications.
- Notable Investments: Compound, OpenSea, BlockFi.
- Alameda Research
- Details: Alameda Research is a leading principal trading firm that provides liquidity in cryptocurrency and digital asset markets. They participated in Questbook's funding round.
- Investment Focus Areas: Cryptocurrency trading, blockchain, decentralized finance.
- Notable Investments: FTX, Solana, Serum.
- Dragonfly
- Details: Dragonfly is a global crypto asset management firm that invests in blockchain and cryptocurrency projects. They are known for their strategic investments in the crypto space.
- Investment Focus Areas: Blockchain, cryptocurrency, decentralized finance.
- Notable Investments: MakerDAO, Compound, dYdX.
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have a broad investment portfolio across various sectors.
- Investment Focus Areas: Edtech, consumer, early-stage startups, artificial intelligence.
- Notable Investments: Dropbox, Airbnb, Stripe.
What's Next for Questbook?
Questbook is poised to capitalize on the burgeoning web3 space by scaling its efforts to help developers secure funds and learn essential coding skills. With plans to increase grant disbursements to $30 million to $50 million, the platform aims to support local talent globally and develop innovative tools like a gasless wallet for developers.
Future fundraising opportunities seem promising as Questbook continues to attract interest from investors keen on the expanding blockchain and web3 sectors. However, challenges such as the shortage of skilled developers and the complexity of navigating various funding sources may pose hurdles. Despite these obstacles, Questbook's strategic initiatives position it well for sustained growth and potential acquisitions.
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