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Greek-founded Rated Labs Raises $2.5M to Provide Better Transparency in Web3 Infrastructure Data

Greek-founded Web3 infrastructure project Rated Labs raised $2.5M in a seed round
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 • Greek-founded Web3 infrastructure project Rated Labs raised $2.5M in a seed round

 • The round was led by crypto VC 1confirmation, UK-based VC Semantic and New York-based VC Placeholder, together with first-check fund Cherry Crypto and cryptoasset investment firm Decentral Park Capital

 • The project looks to provide bigger transparency and rich context in Web3 infrastructure data

Founded in 2022 by Elias Simos and Aris Koliopoulos, the Greek Web3 project offers data on validators and node operators at a detailed level, which in turn makes it easier for users to compare their performance.

Node operators and validators basically run the chain’s software by validating new blocks written to the chain and broadcasting them to the network. 

With their solution, Rated Labs looks to conjure a way of how to measure the validators historical performance, which at the moment is difficult to do. 

“We believe that there is a valuable data layer to unearth and contextualize in what bubbles up to reputation for nodes and their operators. That very data layer is the missing piece that will enable a host of new products, as well as increased transparency and accountability for Web3 infrastructure sets, and thereby the industry as a whole,” Rated Labs’ co-founder Elias Simos wrote in a blog post.

Unveiling a first version and growing its team

Currently in a pre-release version, Rated Labs offers a network explorer for Ethereum Beacon Chain and Prater validators and validator operators, and enables users to browse for the various entities that make up the set and compare, and contrast their performance.

In the coming weeks Rated Labs plans to unveil a first version and a more powerful network operator explorer and API combination, as well as a set of resources that shed more light on their product suite, rating methodologies, research and downstream integrations. 

We will use the capital to accelerate our mission for greater transparency and rich context in Web3 infrastructure data. We are still growing the team, and looking for mission aligned folks that love solving hard problems,” Simos wrote on LinkedIn.

Read more:  How Blockchain Protects the Mega Gardeners of the African Rainforest

Previously, Simos was a protocol specialist at the online platform Coinbase, while Koliopoulos has extensive experience in social media and content platforms such as Drivetribe.

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https://therecursive.com/author/bojanstojkovski/

Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.
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