Covalent Network (CQT) announced the completion of a $5 million strategic financing round led by RockTree Capital, with participation from CMCC Global, Moonrock Capital, and Double Peak Group. This funding round aims to drive market growth in the second half of 2024. Covalent Network is committed to becoming a leading modular data infrastructure layer, addressing the long-term data availability and providing verifiable structured data challenges in blockchain. The network serves over 3,000 organizations globally, covering more than 225 blockchains. Additionally, former BitMEX CEO Arthur Hayes has joined as a strategic advisor, and the company has undergone a rebranding to align with core crypto values.

Odaily Planet Daily News: Covalent Network (CQT) has announced the completion of a $5 million strategic financing round to drive market growth in the second half of 2024. The funding was led by RockTree Capital, with participation from CMCC Global, Moonrock Capital, and Double Peak Group.

Covalent Network (CQT) aims to be a leading modular data infrastructure layer, addressing two key blockchain challenges: ensuring long-term data availability and providing verifiable structured data for AI through Ethereum Time Machine (ETM).

Covalent Network (CQT) serves over 3,000 organizations globally, offering extensive on-chain data access across more than 225 blockchains for sectors such as AI, DeFi, and GameFi.

Prior to this announcement, former BitMEX CEO Arthur Hayes revealed his appointment as a strategic advisor at Covalent Network (CQT) to enhance long-term data availability and Ethereum Time Machine integration into decentralized AI.

Furthermore, Covalent Network (CQT) has unveiled a comprehensive brand overhaul as part of the New Dawn Initiative. This brand upgrade aligns with core crypto values, breaking away from traditional corporate influences.

Covalent completes $5 million strategic financing round led by RockTree Capital