Blockchain data infrastructure Covalent has announced the successful closing of a $5 million strategic funding round led by RockTree Capital. The funding will be utilized to expand Covalent’s operations to Asia and to support the adoption of Long-Term Data Availability in China, Korea, and Singapore.

Double Peak Group

Moonrock Capital

Cmcc Global

Rock Tree Capital

The startup, founded this year by IIT Kharagpur alumni Sandeep Singh and Arush Dhawan, operates as a tech-enabled managed marketplace for speciality chemicals such as pigments, resins, additives, binders and polymers. In a statement, the company said it plans to use the freshly raised funds to strengthen its technology infrastructure and for recruitment across the international business development, technology, and product development verticals.

Covalent Raises $5 Million in Round Led by RockTree Capital, Unveils ‘Complete Rebrand'

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Covalent Raises $5 Million in Round Led by RockTree Capital, Unveils ‘Complete Rebrand'

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