Decentralized data aggregator SubQuery has successfully obtained $9 million via fundraising, to design Polkadot’s first data aggregation layer – aimed at reinforcing data indexing for the interoperability network.

Specifically, The investment funds will reportedly be channeled towards designing SubQuery’s data indexing infrastructure, catering to every Polkadot and Kusama application, per the firm. 

SubQuery further disclosed that the investment would assist it in the expansion efforts, in terms of technical abilities, as well as supporting the open-sourcing of its software.

This investment round was co-led by Arrington XRP Capital, Digital Currency Group, and Stratos Technologies, with other participants such as Hypersphere Ventures, NGC Ventures, Wintermute, and Skynet Trading also taking part. 

SubQuery has reportedly managed to secure $1.8 million via a private seed round finalized back in March 2021, which saw DeFi Alliance, The LAO, and P2P Capital, among others, joining in. 

SubQuery’s main target is reportedly to widen the scope of the access to Kusama and Polkadot-based blockchain data, via building new markets dedicated to data indexing and provisioning. 

Arrington XRP Capital – which made investments in the Moonbeam para chain – reportedly believed that SubQuery possessed the sufficient capability to turn into a critical infrastructure for all Polkadot para chains and applications. 

Within the Polkadot network, parachains plug into one main blockchain, providing the same type of concept as the hub-and-spoke model currently employed across airports.