Web3 startup zbyte has raised $4 million in a strategic funding round from multiple investors, including Cartography Capital and Quarterback Financial.
The startup said it has also received an additional commitment of $1 million.
The funds will be used to onboard various developer communities, organizing hackathons, bringing Web3 to businesses and developers across various domains and use cases by the the zbyte platform,the company said in a release.
Founded by Nitin Kumar, Krish Kupathil, and Ankush Tiwari in 2021, zbyte enables developers to build on existing protocols through its low-code and no-code platform
The startup also announced the launch of its mainnet, a fully developed and deployed blockchain protocol. According to zbyte, the mainnet will enable Web2 developers to create decentralised applications (dApps) via a low-code and no-code module approach.
zbyte is the second firm 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.