- zbyte a startup bridging enterprises from web2 to web3 has raised $10 Mn funding.
- The startup plans to launch a public token, the ZBYT token, towards the end of quarter 2022.
- The Startup is working on a blockchain-enabled, LCNC (low-code, no-code) platform.
zbyte a startup bridging enterprises from web2 to web3 has raised $10 Mn funding. The funding round was led by private investors. zbyte aims to build decentralised applications (dApps) stores to help developers and enterprises to build such apps.
The startup has been cofounded by strategist Nitin Kumar, serial entrepreneur Krish Kupathil, deep technologist Ankush Tiwari and new economy executive Saurabh Radhakrishnan.
The Startup is working on a blockchain-enabled, LCNC (low-code, no-code) platform. With the decentralised platforms, the startup aims to accelerate blockchain adoption in the developer community and enterprises through its LCNC Interface.
Even the startup plans to launch a public token, the ZBYT token, towards the end of quarter 2022.
The co-founder of zbyte, Nitin Kumar said, “We will leverage the developers’ talent available in India. The developer ecosystem will be impacted significantly by our efforts”.
Additionally, the cofounder said that “Without a decentralised platform, operationalizing web 3 will be very challenging and with its core, decentralised platform product, Zbyte seeks to develop multiple use-cases and dApps.
As per Kumar, New revenue models, exponential effects of web3, and better customer experiences are driving businesses to offer better experiences to their customers. Integrating web3 systems gives organisations a competitive edge over their competitors.
Eric Moe, One of the investors in zbyte said and cofounder of Opentable and WideOrbit said, “As a team at zbyte, we recognized gaps in the Web3 ecosystem that hindered developers and enterprises from adopting blockchain. Using a decentralized platform, this ecosystem must fill the gaps.”
In Moe’s opinion, the value chain will attract multiple players, and this is a big business opportunity.
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