CoinFund Leads $8M Round for Decentralized Database Firm Tableland
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Decentralized cloud database Tableland has raised an $8 million Series A led by crypto-focused investment firm CoinFund.
Other investors in the round include Multicoin Capital, Blueyard and A Capital. Tableland’s total funding now stands at $10.4 million. The funds will help support Tableland’s mainnet launch, the release of new developer tools and the debut of Tableland Studio later this year.
Crypto winter has slowed investments in the industry, but infrastructure projects have proven the most resilient sector, including decentralized data solutions that can make it easier for Web2 developers to come into this space.
On Wednesday, decentralized data warehouse firm Space and Time announced an agreement with Microsoft (MSFT) to make real-time blockchain data available through the tech giant’s Azure Marketplace.
New York-based Tableland offers a permissionless relational database that leverages SQL – the structured query language programmers use to interact with databases – to create reusable data “blueprints.” Developers are able to build complex relational data models for decentralized games, applications (dapps) and non-fungible tokens (NFT).
The tables in Tableland are on-chain assets that can be grouped into models controlled by customizable authentication or permissions Developers can create tables, insert or query data, and grant the ability to contribute to their database.
“Tableland integrates a battle-tested database into EVM-based smart contracts for the first time,” said Tableland co-founder Andrew Hill in the press release. “The ease and familiarity of SQL combined with a network of pre-built, composable data models will make it possible for developers to turn ideas into dapps faster than ever before.”
The models are distributed and stored on the Tableland Network, which has validators governed by the Tableland Protocol. The network is currently available in beta on Ethereum, Polygon, Arbitrum and Optimism.
The incentivized testnet is planned for the fourth quarter of this year with the production mainnet following in early 2024. Tableland Studios– a developer platform for designing and reusing relational database models – is preparing for an initial release for beta testers.
Edited by Parikshit Mishra.
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Brandy covers crypto-related venture capital deals for CoinDesk.
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Brandy covers crypto-related venture capital deals for CoinDesk.
