# Crypto data platform Shadow raises $9 million

By [Meikoool](https://paragraph.com/@meikoool) · 2023-12-05

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The Shadow crypto platform has successfully secured a substantial $9 million in a seed funding round, a commendable feat driven by its mission to streamline Ethereum development costs. Paradigm led the round, according to insights from The Block, joined by prominent investors including Coinbase Ventures, Electric Capital, Ethereum Foundation, Uniswap, and Flashbots.

At the core of the company's offerings is its inaugural product, facilitating an inclusive approach for individuals to append accurate and pertinent data to any contract. This pioneering platform operates by leveraging "shadow forks" and a private execution environment to provide real-time snapshots of public blockchains.

Alvin Xia, the CEO of the startup, expressed, “The problem we are solving is that blockchains are a fundamentally new type of database. Working with this data is still too difficult.” Shadow's innovative solution aims to cater to the needs of on-chain analysts and developers, simplifying the intricate process of navigating blockchain data.

Xia affirmed that the product has already been launched, attracting the interest of pioneering clients within the DeFi realm and other Web3 services, marking a promising start for the company in practical deployment.

Notably, in a parallel development within the space, the L2 project Blast secured an impressive $20 million funding round in November, backed by investments from Paradigm and Standard Crypto.

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*Originally published on [Meikoool](https://paragraph.com/@meikoool/crypto-data-platform-shadow-raises-9-million)*