Allium received $21.5 million in total during the round, which was headed by Theory Ventures and included participation from Kleiner Perkins and Amplify Partners, two seed investors.

Allium offers its clients rapid, easy, and enterprise-grade blockchain data that powers their apps, helps them find growth and investment possibilities, manages company reporting, and delivers strategic answers to queries.

The company wants to profit from the growing popularity of blockchain technology and the spread of various networks, which will cause an exponential growth in the amount of data.

According to the business, it is laborious and technically difficult to comprehend and report activity, invest in prospects, and develop products because of the volume and complexity of blockchain data available today.

According to Ethan Chan, CEO of Allium: "At the moment, it takes petabytes of data to parse thousands of smart contracts and continuously normalize data across over 40 blockchain networks in order to precisely track the amounts of digital currency. Our intention is for our clients to never have to worry about any of this, freeing them up to concentrate on making amazing things and asking amazing questions.

In order to provide launchpads for financial institutions looking to adopt digital assets, as well as payment providers, brokerages, and the blockchain ecosystems for builders, Allium intends to use the additional money to invest in data infrastructure and grow its GTM motion.

"As more assets move to blockchains, Allium will become the company that provides the data necessary to foster broader adoption and additional innovative uses of blockchains and tokens," said Tomasz Tunguz, founder of Theory Ventures and a new board member of Allium.