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Serbian blockchain development platform Tenderly raises $40M in Series B round

Founded in 2018, Tenderly is a platform for blockchain developers that work on web3 products.
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Serbian blockchain development platform Tenderly secured a $40M Series B investment round, led by Spark Capital, and with participation from both new and existing investors Accel, PointNine Capital, Abstract Ventures, Coinbase Ventures, Uniswap Labs, and Daedalus.

Founded in 2018, Tenderly is a platform for blockchain developers that work on web3 products. The Serbian startup plans to use the latest investment to further develop products, attract new customers and partners, and expand its existing teams in Belgrade and San Francisco.

“We’ve witnessed firsthand how difficult it is to move quickly when you don’t have the support of tools and services to give you a boost along the way. As time went on, our dedication to this mission only grew, especially as we saw more and more ways we can make the entire developer journey better, ultimately creating an environment in which fast-paced web3 teams can innovate and thrive,” Tenderly’s founder and CEO Andrej Bencic said in a press release.

The startup aims to set the standard for quality and versatility in the Web 3.0 developer tooling space.

“We are also introducing numerous building blocks for Web3 builders based on our advanced APIs, Simulation Platform, and Web3 Actions ecosystem. For developers, this means the ability to integrate Tenderly capabilities directly into their dApps and development workflows,” Bencic explains.

According to him, the unlimited opportunity for innovation and open collaboration make blockchain the industry of the future. During the past few years, the Serbian founder has significantly grown its team, and it plans to expand its work even more in the following period.

“From a tiny startup of 7 in Belgrade, Serbia, to a multi-continent team of 37 and growing quickly. We have some big plans for the future, and to make them happen, we need some serious muscle to get there,” Bencic adds.

Last year, the Serbian company also raised €12.9M Series A round to support Ethereum blockchain development.  

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Additionally, Tenderly will also use a part of the new investment for the development of Tenderly Garage, a project that aims to connect the local startup community through the sharing of relevant knowledge and networking and help others startups.


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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.