By
Steve Muchoki
April 25th, 2024
The startup is now looking to capitalize on its technology, the strength, experience, and the commitment of its team to position its offering in a way that can bring benefits to as many stakeholders in the industry as possible.
Tatum, a startup that helps blockchain developers build their applications has announced it has raised the sum of $41.5 million as it seeks to expand its products and beat demands across the board.
As announced by the firm, the funding round was led by Equity Partners and it also recorded participation from Octopus Ventures, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle, and the founders of Bitpanda.
Tatum has plugged itself into an essential service provider in the blockchain ecosystem, helping multinational firms, as well as startups, float their respective blockchain-based services with ease. With more than 90,000 users of its tools and products since its inception in 2018, Tatum is arguably an indispensable enabler for most blockchain developers.
“Blockchain has proven essential to the explosive growth and broad innovation of digital finance and Web 3.0,” said Jiri Kobelka, co-founder and chief executive officer of Tatum. “Tatum is the first company to squarely address the complexities, necessary technological expertise, and lengthy development times that blockchain applications require. We have revolutionized blockchain application creation by slashing development times from months or years of engineering time down to just days.”
Tatum is not new to the venture capital world as it has previously tapped $8 million in funding which it deployed at the time to complete the development of its platform so as to start attracting customers at the time.
The innovation behind the launch of the Tatum protocol has pushed the startup to surmount new hurdles as it sought to carve a niche for itself in the competitive Web3.0 world. Its strides made it recognized as a part of Berkeley SkyDeck in 2021, making it one of the 16 startups, out of the thousands that competed for the slot.
Tatum to Capitalize on Its Competitive Advantage with the Funding
With the $41.5 million cash injection, Tatum is looking at becoming pushing forth marketing, propounding its educational strategies, and paying additional attention to community building in a bid to solidify its brand name.
The startup is now looking to capitalize on its technology, the strength, experience, and the commitment of its team to position its offering in a way that can bring benefits to as many stakeholders in the industry as possible. With the protocol known to speed up the rate of building and deployment of Web3 applications by 95%, it hopes to improve this record and give a satisfying service to all of its clients.
“By speeding the development process, Tatum is enabling companies to bring finished blockchain applications into production with an immensely faster time to market,” said Samuel Sramko, co-founder and chief technology officer, of Tatum. “The role of blockchain to Web 3.0 and its future cannot be understated, and Tatum is fundamentally changing not only the velocity of development but also the robustness, so that more complex functionality can be more readily accomplished even without highly technical expertise.”
The company’s product is used far and near and the startup onboards as many as 7000 new customers on a monthly basis.
