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Alchemy launches blockchain infrastructure platform after $15m funding

By Ramla Soni

The company’s latest funding round will expand the business into international markets

San Francisco-based blockchain firm Alchemy has launched its public application programming interface. It allows enterprises to “easily build real-world applications on top of blockchain technologies”.

This comes after the company raised $15 million in its Series A funding round led by Pantera Capital. It has seen participation from Stanford University, crypto exchange Coinbase, Samsung, Alphabet chairman John Hennessy, LinkedIn co-founder Reid Hoffman and Yahoo founder Jerry Yang.

The company said it intends to use the funds to expand into international markets.

Alchemy's platform provides developers with a new blockchain infrastructure that is “reliable, scalable, and performant” as well as powerful blockchain-specific developer tools.

By leveraging this platform, customers are able to accelerate their product development and integrate with blockchain technologies while also reducing costs, the firm said.

Alchemy was founded in 2017 by Stanford classmates Nikil Viswanathan and Joe Lau along with a team of industry veterans from Facebook, Google, Microsoft, Stanford and MIT.

It serves over a million users weekly in over 200 countries. Headquartered in San Francisco, the company has raised $15 million to date.

Alchemy's platform will now become available more broadly, and interested companies can sign up at alchemyapi.io.

FURTHER READING: Walmart Canada announces blockchain-based logistics solution

FURTHER READING: Hahn Air issues first blockchain airline tickets

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