zbyte raises $5M from Cartography Capital, Quarterback Financial
The company considers India as a developer market and plans to tap into the opportunity through its campus chain programme with various universities.
Web3 infrastructure platform has raised $5 million in a funding round that saw participation from Cartography Capital and Quarterback Financial.
The zbyte mainnet introduces an innovative low-code, a no-code module that enables Web2 developers to effortlessly create decentralised applications (dApps) without needing to reskill, the company said in a statement.
The company considers India as a developer market and plans to tap into the opportunity through its campus chain programme with various universities, the statement added.
"This fundraise will accelerate their [zybte's] ambitious roadmap. Onboarding various talented developer communities, organising 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 decentralising and empowering the zbyte community," said Krish Kupathil, Co-founder of zbyte.
According to Dan Quintero of Cartography Capital, the company's investment in zbyte was strategic.
"We believe zbyte is set to be a key player in scaling Web3 adoption," he said.
zbyte is the second company to receive funding in the Web3 space this week. Earlier, Web3 and digital rewards app Fetcch raised $1.5 million in a funding round led by AppWorks Venture and Hashkey Capital.
Companies operating in the crypto space in India noted that this year will be an exciting time for real-world use cases, including those in the payments space.
(The story was updated to reflect the changes in the quote.)
Edited by Suman Singh