Financed $6M in a seed round, Daylight integrates a versatile Multi-Wallet API
Daylight, an integrated on-chain API for transaction processing, has announced a significant fundraising round of $6 million. This brings the total raised by the company to $9 million, following a $3 million pre-seed round announced in November 2022.
The fundraising was structured as equity with token warrants and was co-led by Union Square Ventures and 1kx, with participation from Framework Ventures, Chapter One, Zerion co-founders Evgeny Yurtaev and Vadim Koleoshkin, Ido Ben-Natan and Raz Niv from Blockaid, and Yup's Nir Kabessa. As part of the deal, Union Star Ventures joined Daylight's board.
The company plans to use the fresh capital to increase the number of monthly active addresses receiving transactions from the current 6 million to tens of millions. To achieve this, Daylight will expand its team of back-end engineers and add more moderators to review transaction submissions.
Daylight's platform currently supports various on-chain activities such as airdrop claims, NFT mints, gaming quests, and more. The company also plans to add more transaction categories, expanding users' options for on-chain activities. A new, unannounced transaction category is planned to be added in Q4. However, no further details were provided about the nature of the new transaction category.
The expansion of the team and addition of moderators are intended for activities down the line. The information was provided by Kyle McCollom to The Block, who reported the news of the company's plans and the fundraising. The company did not specify the exact number of moderators to be added.
Daylight's platform currently supports wallets including MetaMask, Coinbase Wallet, Zerion, and OKX Wallet. The company aims to make on-chain transactions more accessible and user-friendly, and this fundraising is a significant step towards achieving that goal.
Stay tuned for more updates as Daylight continues to grow and expand its platform.
With the raised $6 million, Daylight aims to increase the number of monthly active addresses from 6 million to tens of millions, necessitating an expansion of their back-end engineering team and the addition of moderators for transaction reviews. This technology-driven finance endeavor, reinforced by investments from Union Square Ventures and 1kx, as well as others, is set to broaden its on-chain activities by adding more transaction categories and making on-chain transactions more accessible.
