Covalent, a blockchain data infrastructure firm, raised $5 million in a strategic funding round led by RockTree Capital, with additional support from CMCC Global, Moonrock Capital, and Double Peak Group. The funds will be used to expand operations in Asia and enhance the adoption of long-term data availability in regions such as China and Singapore. Covalent’s infrastructure allows users to access historical blockchain data, akin to a “Ethereum Wayback Machine.” This financing milestone will support the firm’s goal of providing robust data infrastructure globally, according to co-founder Ganesh Swami.
