FTX Ventures and DCG Fund $9.6M in Funding for Kwil Decentralized Database Solution

By Token Newspaper Last updated Nov 8, 2022

Kwil, a decentralized database infrastructure provider, raised $9.6 million in a funding round supported by heavyweights such as the venture capital arm of cryptocurrency exchange FTX and Digital Currency Group (DCG), the parent company, is to the latest filing Thursday. and the United States Securities and Exchange Commission.

An AngelList listing for Kwil confirms that the fundraiser ended in May. Kwil’s list of sponsors also includes Blockchange, AlleyCorp, and Amplify Partners, all of which are listed as partners on the company’s website.

Kwil’s community-based platform – called KwilDB – is based on SQL, a programming language for interacting with large databases. The solution reduces application development time by allowing developers to quickly run complex queries against sets of veri and access veri from other applications, according to the website. “By extending SQL to a more abstract form, building on Web 3.0 becomes a citizen for all developers. Whether you have a social network, a veri analysis service, or a complex machine learning algorithm, Porting applications from the Web 2.0 to Web 3.0 and KwilDB does not require a change in your current knowledge or skills,” the Kwil team wrote on the website.