# PowerLoom

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

- Industry: Software
- Headquarters: Brooklyn, US
- Website: www.powerloom.io
- Total disclosed funding: $3.1M
- Latest round: Seed (Oct 6, 2021)
- Investors on record: 13

## About

PowerLoom, Inc. provides innovative data services aimed at enhancing the Web3 ecosystem, enabling users to create specialized data markets for decentralized applications and smart contracts.Founded in 2020 in Brooklyn, US, PowerLoom, Inc. specializes in building data solutions for the Web3 landscape. The company was co-founded by Anomit Ghosh and Swaroop Hegde, who serves as the CEO. PowerLoom raised USD 3.1 mn in Seed funding on October 6, 2021, led by Blockchain Capital, with participation from various investors including AU21 Capital and Fenbushi Capital. This funding round is the total amount raised to date, and the company has completed one deal overall.Powerloom offers a comprehensive suite of data services designed to empower developers and businesses within the Web3 ecosystem. Its core product, the Powerloom Protocol, enables the creation of configurable, use case-specific data markets. These markets provide peer-validated datasets that are backed by consensus mechanisms and stored on IPFS, ensuring transparency and trust. The platform's functionalities include building complex dashboards, smart bots, and insightful trackers, catering to the needs of decentralized finance (DeFi) protocols and smart contracts. The end users include developers and organizations looking to leverage rich data applications, particularly in regions with a burgeoning blockchain and DeFi presence, such as North America, Europe, and parts of Asia. Powerloom's flexibility allows users to easily set up unique data shops or customize existing ones, facilitating a wide range of applications across various industries.Powerloom generates revenue through partnerships and potential subscription models tailored for developers and businesses. As clients utilize the Powerloom Protocol to integrate data solutions, transactions may occur as clients purchase access to pre-computed APIs and datasets tailored for specific use cases, such as Uniswap V2-related data. This transactional framework enables direct engagement with end-users, who benefit from ready-to-use data points that simplify their development processes. The firm serves a diverse client base, spanning individual developers to larger enterprises seeking to enhance their data capabilities, though specific pricing plans for its offerings are not detailed.PowerLoom plans to leverage its recent Seed funding of USD 3.1 mn, raised in October 2021, to expand its product offerings and market presence. The company is focused on developing new features for the Powerloom Protocol and aims to launch these enhancements in the upcoming months. Additionally, PowerLoom intends to target new geographic markets in Asia and Europe for expansion by the end of 2022, capitalizing on the growing demand for data solutions in the blockchain sector.

## Funding rounds

- Seed, Oct 6, 2021, $3.1M — Blockchain Capital, Fenbushi Capital, Youbi Capital, Protocol Labs, Inc., Altonomy, Divergence Ventures, CMS Holdings, LLC, The LAO, LongHash Ventures, AU21 Capital, Double Peak Group, KNS Group, PrivCode Capital

## Investors

- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Seed
- Fenbushi Capital (https://capitalatlas.ai/funds/fenbushi-capital) — Seed
- Youbi Capital (https://capitalatlas.ai/funds/youbi-capital) — Seed
- Protocol Labs, Inc. — Seed
- Altonomy — Seed
- Divergence Ventures (https://capitalatlas.ai/funds/divergence-ventures) — Seed
- CMS Holdings, LLC (https://capitalatlas.ai/funds/cms-holdings-llc) — Seed
- The LAO (https://capitalatlas.ai/funds/the-lao) — Seed
- LongHash Ventures (https://capitalatlas.ai/funds/longhash-ventures) — Seed
- AU21 Capital (https://capitalatlas.ai/funds/au21-capital) — Seed
- Double Peak Group — Seed
- KNS Group — Seed
- PrivCode Capital — Seed