Zbyte, a Web3 platform has raised $10 million in a funding round led by private investors.
The startup plans to use the funds to build a decentralized application (dApp) store to help developers and enterprises build such apps.
San Francisco-based zbyte was founded in 2021 by Nitin Kumar, Krish Kupathil, Ankush Tiwari and Saurabh Radhakrishnan, It is operating on a blockchain-enabled, LCNC (Low-code, No-code) platform.
With decentralized platforms, it aims to accelerate blockchain adoption in the developer community and enterprises through its LCNC interface.
“We will leverage the developer talent available here in India. We hope to make a significant impact on the developer ecosystem,” said, Nitin Kumar, cofounder of zbyte.
The startup also plans to launch a public token, the ZBYT token, in the fourth quarter of 2022.
“It is going to be a huge challenge to operationalise web 3 without something like a decentralised platform,” Kumar said.
According to Kumar, Zbyte is also planning to leverage the developer talent available in India.
Kumar also said, businesses want to provide better customer experience, exponential impact from Web3 and new revenue models. Organizations that integrate Web3 systems have a competitive advantage compared to organizations that do not.
The startup is looking to create multiple use-cases and dApps built on its core decentralized platform product.
”Understanding the cloud adoption journey of enterprises, the zbyte team identified missing pieces from the Web3 ecosystem hindering blockchain adoption for developers and enterprises. This ecosystem must build the gaps by leveraging a decentralised platform,” Eric Moe, cofounder of Opentable and WideOrbit, and investor in zbyte.
zbyte is creating a new category in the blockchain ecosystem: the decentralized platform (dPlat). dPlat allows dApp developers to build on existing protocols via a low code/no code platform.
It enables Web 3.0 ecosystems by removing the complexity for developers and enterprises to build dApps. The zbyte dApp store creates a thriving ecosystem of developers and users by allowing them to upload dPlat enabled dApps that leverage public blockchain.
zbyte has also created modules on dPlat to allow Fortune 5000 companies to integrate existing enterprise Web 2.0 ecosystems into Web 3.0.