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Covalent has raised $2.0M across 1 funding round.
Key people at Covalent.
Covalent was founded in 2018 by Ganesh Swami (CEO & Co-founder) and Levi Aul (CTO & Co-founder).
Covalent has raised $2.0M in total across 1 funding round.
Covalent provides modular data infrastructure, offering a unified API to aggregate and index information from over 100 blockchains. The platform delivers billions of structured data rows, simplifying the complex process of querying on-chain data. This approach addresses fragmented blockchain data, enabling robust application development and analytics.
Founded in 2018 by Ganesh Swami and Levi Aul, Covalent emerged from the insight that a significant barrier to blockchain adoption was the arduous task of accessing comprehensive on-chain data. Recognizing this gap, Swami and Aul aimed to standardize and democratize data access for developers and enterprises.
Covalent serves over 70,000 developers and numerous enterprises with its blockchain data solutions. Its vision focuses on enabling next-generation applications and AI agents requiring high-quality data, positioning itself as a foundational layer for the evolving decentralized web.
Key people at Covalent.
Covalent was founded in 2018 by Ganesh Swami (CEO & Co-founder) and Levi Aul (CTO & Co-founder).
Covalent has raised $2.0M in total across 1 funding round.
Covalent's investors include Hashed.
Covalent has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Venture Round in March 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 7, 2021 | bitsCrunch | $750K Seed | — | Double Peak, Genblock Capital, LedgerPrime, MEXC, Synaps |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2021 | $2.0M Venture Round | Hashed |
Covalent is a blockchain technology company founded in 2018 that provides a unified API for fast, scalable access to historical blockchain data across more than 200 chains.[1] It solves infrastructure problems inhibiting blockchain adoption by enabling developers to build applications without managing multiple inconsistent APIs or self-hosting nodes, primarily serving the blockchain technology industry.[1] The company, headquartered in Vancouver, Canada, has raised $2M in seed VC funding and remains active in the space.[1]
This positions Covalent as a key enabler in the Web3 ecosystem, offering developer-friendly tools amid growing demand for multi-chain data access, with early traction evidenced by its broad chain coverage and sustained operations post-funding.[1]
Covalent was founded in 2018 in Vancouver, British Columbia, Canada, focusing on blockchain infrastructure challenges.[1] While specific founder details are not detailed in available sources, the company emerged to address the fragmentation in accessing historical blockchain data, a critical barrier for developers building decentralized applications.[1] Early traction came from developing its core Unified API, which quickly expanded to support over 200 chains, demonstrating product-market fit in the rapidly evolving blockchain sector and securing $2M in seed funding about four years ago.[1]
This origin reflects the post-2017 crypto boom, where infrastructure gaps became evident, propelling Covalent from a niche solver to a foundational tool in multi-chain development.[1]
These features make Covalent a streamlined alternative in a crowded field of blockchain data providers.
Covalent rides the multi-chain interoperability trend in blockchain, where applications increasingly span Ethereum, Solana, and beyond, driven by DeFi growth and layer-2 scaling solutions.[1] Timing is ideal post-2021 bull market, as developers demand reliable data amid exploding on-chain activity—market forces like rising dApp adoption and regulatory clarity favor infrastructure like Covalent's API.[1]
It influences the ecosystem by lowering barriers for Web3 innovation, enabling faster prototyping and analytics tools that power analytics platforms, wallets, and NFT marketplaces, thus accelerating overall blockchain maturity.[1]
Covalent is poised to expand its API footprint as AI-blockchain integration and real-time analytics surge, potentially adding AI-enhanced querying or enterprise-grade features to capture more of the $10B+ Web3 data market.[1] Trends like zero-knowledge proofs and modular blockchains will amplify demand for its historical data tools, evolving its role from enabler to indispensable infrastructure.
With its seed-stage momentum intact, expect partnerships with major chains or acquisitions by larger players, solidifying Covalent's bet on unified access as a cornerstone of blockchain's mainstream adoption—echoing its founding mission to dismantle adoption hurdles.[1]
