Particle Network is a web3 firm that develops full-stack web3 infrastructure that is data-driven and composable. The firm has a vision to help the world accelerate its transition to cryptoverse – a universe powered by crypto.
To facilitate the achievement of this vision, the firm has powerful SDKs(Software Development Kits) to enable developers focus on developing applications with a great experience rather than drain their focus on heavy lifting.
Through its infrastructure, the firm is promising creation of the fastest path from
ideas to deployment of software in a single workflow for high-performance decentralized applications.
Particle network has recently announced its success in raising $7 million in a seed fundraising round that attracted participation from several eminent firms including ABCDE, Animoca Brands, Longhash Ventures, GSR Ventures and HashKey Capital with ABCDE as the lead investor.
In April of 2022, the firm raised $1.8 million in a pre-seed funding round.
According to Particle Network, the funds acquired from this round will be utilized to facilitate the development of a middleware platform to support web3 developers.
Since its inception in early last year, the startup’s core product has been offering login and wallet middleware solutions that help developers integrate usable web3 authentication solutions to their decentralized applications.
According to Pengyu Wang, the founder of Particle Network, this feature allows users to log into other platforms using existing crypto wallets, phone numbers or other accounts and automatically create an on-chain noncustodial wallet.
Mr. Wang also said that this solution will help developers to lower the barriers on end users, more so non-crypto users, while still maintaining the user’s autonomy of on-chain assets. He said that the fact that the firm’s infrastructure allows end users to have full control over their assets sets them apart and makes them stand out.
Particle Network launched this authentication service in October of 2022 and since then has managed to onboard more than 200 web3 projects including Perfect World, Ultiverse and FunPlus. The firm’s infrastructure is multi-chain as it supports all EVMs(Ethereum Virtual Machines), Solana and Tron. The firm has plans to launch on other chains like Near and Aptos within the next month. With a total of around 25 employees, Particle Network aims to expand this team to accelerate development with the help of the newly acquired funds.
Particle network is using the SaaS(Software as a Service) model to generate revenue. With this model, the firm charges developers and projects depending on the monthly active users. This charge applies for projects with over 2000 monthly active users.
It also has several other offerings like node services, a data API and an NFT service.
