zbyte, a Web3 start-up, announced raising $10 million in a round led by private investors. The entity will embark on a public token offering launching the ZBYT token towards Q4 of 2022.

“We will leverage the developer talent available here in India. We hope to make a significant impact on the developer ecosystem,” said Nitin Kumar, Co-founder, zbyte.

The project is pioneering a blockchain-enabled, LCNC (low-code, no-code) platform, making it easy for web3 developers and enterprises to build dApps (decentralised applications). The new category, dPlat will enable acceleration of blockchain adoption in the developer community and enterprises through its simple LCNC Interface.

‘Investment faith in crypto is strong’

“This ecosystem must build the gaps by leveraging a decentralised platform. It is a large business opportunity, and multiple players will revolve around the value chain. Investment faith in crypto is still strong,” said Eric Moe, co-founder, Opentable and WideOrbit.

The dPlat will reward the community of developers through royalties for the dApps they create. The investor faith in cryptocurrency remains steadfast. When several sectors are talking of downsizing, the vertical is seeing launches of new businesses, hiring as well as raising money, said the release.

The venture was co-founded by serial entrepreneur Krish Kupathil, deep technologist Ankush Tiwari and new economy executive Saurabh Radhakrishnan.