Blockchain indexing and data infrastructure platform Allium Labs has completed a $16.5 million Series A funding round, led by Theory Ventures.

according to CoinDesk, blockchain indexing and data infrastructure platform Allium Labs has completed a $16.5 million Series A funding round, led by Theory Ventures, whose founder Tomasz Tunguz will join the board. Kleiner Perkins and Amplify Partners also participated in this funding.

Allium Labs provides enterprise-level blockchain data for companies such as Visa, Stripe, and Uniswap Foundation, and plans to use the funds for data infrastructure development and market expansion. Latest data shows that demand for stablecoins is rebounding in 2024, with circulating supply nearing $150 billion and monthly active users reaching 27.5 million.

Additionally, Web3 asset data platform RootData shows that Allium offers on-chain data infrastructure products, ranging from hosted blockchain databases and rich data models to real-time alert features.