Blockchain development platform Tatum said today that it has raised $41.5 million in funding to assist developers in bringing their Web3 decentralized apps to market faster by simplifying the development process.
Evolution Equity Partners led the funding round with participation from Octopus Venture, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle and the founders of the crypto exchange Bitpanda, among others.
Founded in 2018, Tatum provides a blockchain development framework that allows developers to prototype decentralized applications rapidly by making complex blockchain operations single lines of application code. It does this by providing pre-built features such as smart contracts, fee and payment solutions, real-time alerts, out-of-the-box crypto exchange functions and key management systems.
“By speeding the development process, Tatum is enabling companies to bring finished blockchain applications into production with an immensely faster time to market,” said Samuel Sramko, co-founder and chief technology officer of Tatum. “The role of blockchain to Web3 and its future cannot be understated.”
According to the company, using its frameworks and features, developers can reduce the time it takes to produce decentralized code by up to 95%. By providing these tools, libraries and templates at their fingertips, Sramko added, developers can get complex functions into their decentralized applications and accomplish feats of engineering without the need for deep technical expertise.
Tatum supports more than 40 blockchains and digital assets using its application programming interface, giving developers a vast stack to work with. It uses a combination of blockchain infrastructure and developer tools to unify interaction with blockchains and user interfaces with its software development kit. That allows developers to mint nonfungible tokens, as well as manage, store and transfer cryptocurrencies.
“Blockchain has proven essential to the explosive growth and broad innovation of digital finance and Web3,” said Jiri Kobelka, Tatum’s co-founder and chief executive officer. “Tatum is the first company to squarely address the complexities, necessary technological expertise and lengthy development times that blockchain applications require. We have revolutionized blockchain application creation by slashing development times from months or years of engineering time down to just days.”
Developers interested in trying out Tatum can do so for free with unlimited API calls at five requests per second on all main and testnets. Plans start at $9 per month for 1 million API calls at 200 requests per second and $49 per month for 5 million API calls.