# PARSIQ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parsiq

- Industry: Software
- Headquarters: St. Thomas, US Virgin Islands
- Website: www.parsiq.net
- Total disclosed funding: $3M
- Latest round: Series A (Jun 15, 2021)
- Investors on record: 8

## About

PARSIQ LTD is a technology company that provides innovative tools for Web3 developers, focusing on enhancing the decentralized application ecosystem through its core product, Reactive Network, which streamlines development and interaction across blockchains.PARSIQ LTD, founded in 2018 in the US, specializes in tools for Web3 developers, particularly through its Reactive Network. The company has not undergone any notable pivots or changes in business strategy since its inception. The firm was co-founded by Andre Kalinowski and Martin B. Its headquarters are located in the United States. In June 2021, PARSIQ raised USD 3.000 mn in a Series A funding round led by Solana Labs, Inc., with participation from investors such as Axia8 Ventures and CoinUnited Capital. This financing round marked the first and only major funding event for the company to date, bringing its total funding to USD 3.000 mn.PARSIQ offers a suite of innovative tools designed for Web3 developers, with a core product known as Reactive Network, which is a fully EVM-compatible execution layer. This layer enables the development of decentralized applications (dApps) by allowing developers to create Reactive Smart Contracts that autonomously respond to on-chain events. The company primarily serves Web3 developers across North America, Europe, and parts of Asia, providing solutions that facilitate seamless interactions across multiple blockchains without user intervention.PARSIQ generates revenue through its platform by establishing a transaction model involving partnerships with developers and organizations in the Web3 space. The flagship product, Reactive Network, operates on a subscription-based model or transaction fees for the deployment and use of Reactive Smart Contracts. Revenue may also stem from direct-to-consumer transactions where developers and firms subscribe to services based on their requirements, ensuring accessibility for a diverse range of users.PARSIQ LTD plans to utilize the USD 3.000 mn raised in the Series A funding round to establish new strategic partnerships and enhance its positioning within the cryptocurrency ecosystem. The company will collaborate with new investors, including the Solana Foundation, to develop products and improve go-to-market strategies. This collaboration aims to integrate PARSIQ's Smart-Triggers into Solana ecosystem projects, facilitating easier access to blockchain data. The company is also focused on expanding its market reach, particularly in regions beyond its current presence, aiming to penetrate new geographical markets in Asia and Europe by 2023.

## Funding rounds

- Series A, Jun 15, 2021, $3M — Elevate Ventures, MindWorks Capital, Solana Labs, Inc., Axia8 Ventures, Transfero Swiss AG, Krypital Group, CoinUnited Capital, Sanctum Ventures

## Investors

- Elevate Ventures (https://capitalatlas.ai/funds/elevate-ventures) — Series A
- MindWorks Capital (https://capitalatlas.ai/funds/mindworks-capital) — Series A
- Solana Labs, Inc. — Series A
- Axia8 Ventures (https://capitalatlas.ai/funds/axia8-ventures) — Series A
- Transfero Swiss AG — Series A
- Krypital Group (https://capitalatlas.ai/funds/krypital-group) — Series A
- CoinUnited Capital (https://capitalatlas.ai/funds/coinunited-capital) — Series A
- Sanctum Ventures (https://capitalatlas.ai/funds/sanctum-ventures) — Series A