# 🚀 Startup #12: Chaingrep

By [Ali Shaikha](https://paragraph.com/@alishaikha) · 2022-05-04

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**Segment:** Infrastructure / **Business Model**: B2B / **Stage**: Seed

[https://chaingrep.com/](https://chaingrep.com/)

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**Purpose**: Making on-chain data easy to ready and understand

**Problem**: Blockchains are fairly complex and understanding how protocols work is challenging. This complexity is preventing adoption of crypto the the masses.

**Solution**: An API that converts strings of data which are random numbers and letter to easy to understand words formulated into sentences.

**Team**:

*   [Merwane Drai](https://www.linkedin.com/in/merwane/) - Co-founder and CEO
    
*   [Rosco Kalis](https://www.linkedin.com/in/roscokalis/) - Co-founder and CTO
    

**Traction:**

*   Funding: $500k part of YC W22 and raised an undisclosed round from 1Confirmation
    
*   Progress: API is currently in closed-alpha, they are hiring a founding engineer to join the team
    

**Positive Signals:**

*   Funding: YC is a great stamp and have raised a further round
    
*   Team: Rosco has a strong engineering background with 4 years in web3, launched web 3 applications with 250k+ monthly users
    
*   Product: If they can do what they are promising, this makes web3 accessible to the normal person (strong strong signal)
    

**Risks**:

*   Life stage: They are really early with the right signals of investors, team and product, but companies need to cross the chasm early on - it’ll be key to see what use case they fit into and what this means for revenue and growth

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*Originally published on [Ali Shaikha](https://paragraph.com/@alishaikha/startup-12-chaingrep-2)*