bitsCrunch raises Rs 5.5 cr as seed funding for NFT biz

The Indian operations are based out of Chennai. bitsCrunch aims to safeguard the NFT ecosystem, seeing issues like forgeries, wash-trading and inefficient asset valuation in the NFT space.

“As the NFT eco-system rapidly grows, we find bitsCrunch’s AI products to be essential that will further safeguard and enhance the experience of everyday users navigating the space. The team has made excellent progress in recent months. Most notably, an important partnership with eco-system giants, Rarible, and Polygon, and the completion of NFTMarketcap, which will prove to be an invaluable tool for marketplace analysis,” says Bilal, Founder, GenBlock Capital

The funds will be used for getting the products into production, and for the infrastructure to expand to other Blockchains in the space to provide NFT collectors and traders with the best analytics capabilities possible. “We believe blending a proven technology like AI with Blockchain technology,” says Saravanan Jaichandaran, bitsCrunch, Cofounder & Chief Data Scientist.