Despite the rapid growth of decentralised applications, their developers and users, the tooling around web3 isn’t keeping pace.
Blocktorch, based in Berlin, helps web3 engineering teams scale their decentralised applications (dApps). In a recent development, Blocktorch has raised $4.2 million in seed funding. The investment round was led by Cambridge-based early-stage VC, Ideo CoLab Ventures.
Blocktorch re-imagines the way developers build and maintain their decentralised applications. It empowers software engineering teams to gain a deeper understanding of their smart contracts and other decentralised components letting them troubleshoot and resolve anomalies in minutes.
The round also saw participation from Speedinvest, RockawayX, Alchemy Ventures that backed Shield and Pinata, Remote First Ventures, Bryce Ferguson for Sequoia’s scout program, Charlie Songhurst, Simon Jones (Voltz Labs CEO), Andreas Klinger, Max Stoeckl (Dogami CEO), Henry Chen (GP WAGMI Ventures), Felix Wolf and Entrepreneur First.
The funds will be used to grow Blocktorch’s engineering and commercial teams and to launch the official version 1 of the product, based on the insights and user feedback from the beta test.
“What we’re doing is similar to the impact Datadog had on cloud development a decade ago,” said Blocktorch co-founder and CEO, Gery Pollak. “Engineers can get all of the essential logs, metrics, and traces they need straight out of the box, without having to build time-consuming in-house tools themselves.”
Joe Gerber, General Partner at Ideo CoLab Ventures said: “Developers need professional tooling in order to build products and protocols that scale. Data observability is mission critical as web3 matures and the Blocktorch team is leading the way in bringing best-in-class observability tooling to web3.”
Yang Tran, Investment Manager at Speedinvest said: “The number of developers building in the crypto space has increased in the past few years at an unprecedented pace, but developer tooling has not caught up at the same rate. We are more than happy to back the talented team behind Blocktorch building the observability platform for the decentralized stack, covering all observability pillars empowering developers to scale every decentralized component globally and serve billions of users reliably.
Tomas Fanta, investment manager at RockawayX said: “When we learned about Blocktorch, we were excited right away – the web3 space is in dire need of developer and DevOps tooling to progress as a viable alternative to Web2, and Blocktorch’s full-suite observability platform is a critical step in helping protocols to grow faster and reduce user friction.”