Questbook, a Web3 grants platform, raised $8.3 million from Lemniscap in its Series A fundraising round.
Coinbase Ventures, Alameda Research, Dragonfly, Hashed, Polygon, Balaji Srinivasan, Raj Gokal (Solana), Arjun Sethi (Tribe Capital), and Maneesh Sharma all participated in the round (GitHub).
Abhilash Inumella, Subhash Karri, Sriharsha Karamchati, and Madhavan Malolan created Questbook in the United States in 2021.
It began as a learning/educational technology platform, but in 2022, the co-founders decided to construct an on-chain grant orchestration tool to enable developers.
Questbook expects to boost its grant distribution from $30 million to $50 million over the following two quarters, according to the startup, which does not currently sell its software.