Israeli Blockchain Startup SendBlocks Emerges From Stealth With $8.2M Seed Funding

Israeli startup SendBlocks, a blockchain data management company, announced this week that it is coming out of stealth mode with $8.2 million in seed funding.

The SendBlocks platform is fully customizable, allowing blockchain enterprises, ecosystems, protocols, and applications to define pertinent data and leave it to SendBlocks to sift through the blockchain to find their nuggets.

As high throughput blockchains emerge, many new use cases for blockchain-based applications are becoming evident thanks to better usability and cheaper transaction costs.

“At the end of the day, we want to create a reality in which any developer can access any blockchain data they desire, without needing an entire data team or spending thousands of dollars per data need to do so,” said Itay Shrem, Sendblocks’ co-founder and chief executive officer.

Sendblocks’ client roster includes Bancor, a permissionless network to arbitrage decentralized exchanges, and SphereX, a decentralized security solutions provider.

“We believe that starting out in web3 shouldn’t necessitate an extensive data team and that infrastructure costs should align with the application’s user base rather than the blockchain’s throughput,” added Michael Kellner, SendBlocks’ co-founder and chief technology officer. “Merely scaling the blockchain isn’t sufficient; the entire stack must be scalable to support the next generation of applications.”

Shrem and Kellner have spent more than a decade each in Talpiot and are now leveraging their experience in building secure and resilient infrastructures.

The company said it aims to significantly reduce backend and indexing efforts for blockchain developers while maintaining flexibility and robustness by consolidating the conventional indexer/RPC process into a single, user-friendly platform.

Some simple use cases of the platform have already assisted clients, such as flexible historical data access and fully personalized notifications. By providing customers access to anything happening on-chain, SendBlocks helps developers save billions of API queries, resulting in leaner data teams, regardless of the underlying blockchain.

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