Web3 infrastructure platform ZByte has successfully raised $5 million in a recent funding round, featuring prominent participation from Cartography Capital and Quarterback Financial. The highlight of ZByte’s mainnet lies in its groundbreaking low-code, no-code module, facilitating Web2 developers in effortlessly crafting decentralized applications (dApps) without the need for extensive reskilling, as stated by the company in an official release.
ZByte is strategically eyeing the Indian developer market and aims to capitalize on this opportunity through its campus chain program, fostering collaborations with various universities, according to the company’s official statement. The funds raised are expected to expedite ZByte’s ambitious roadmap, focusing on onboarding diverse and talented developer communities, organizing hackathons, and extending the influence of Web3 to businesses and developers across different domains and use cases. The company plans to achieve this by leveraging the capabilities of the ZByte platform, all while actively decentralizing and empowering the ZByte community, as expressed by Krish Kupathil, Co-founder of ZByte.
Krish Kupathil emphasized, “This fundraise will accelerate their [ZByte’s] ambitious roadmap. Onboarding various talented developer communities, organizing hackathons, bringing the power of Web3 to businesses and developers across various domains and use cases by leveraging the power of the ZByte platform, while aggressively decentralizing and empowering the ZByte community.”
Dan Quintero of Cartography Capital sees the investment as strategic, stating, “We believe ZByte is set to be a key player in scaling Web3 adoption.” This funding marks ZByte as the second company in the Web3 space to receive significant backing this week. Previously, Web3 and digital rewards app Fetcch secured $1.5 million in a funding round led by AppWorks Venture and Hashkey Capital.
In the evolving landscape of crypto-related activities in India, industry experts predict that the current year will witness significant advancements in real-world use cases, particularly in the payments space. As ZByte focuses on its expansion plans and strategic partnerships, the broader context of the growing interest in Web3 technologies in India positions the company as a key player poised to contribute to the unfolding narrative of innovation and development in the region.
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