Dutch Web3 Data Infrastructure Startup The Grid Emerges from Stealth with €460,000 Additional Angel Round Investment from Arches Capital
Jordan Hatcher
Nov 12, 2024
Contact Information: Jordan Hatcher, Co-Founder media@thegrid.id
FOR IMMEDIATE RELEASE 12 NOVEMBER 2024
Amsterdam-based company aims to revolutionise Web3 discoverability and data standardisation
AMSTERDAM, Netherlands, 12 November 2024 - The Grid, a pioneering Web3 metadata infrastructure company, today announced its emergence from stealth mode, into open Beta, alongside an additional €460,000 investment from Arches Capital and its angel network. This brings the total round size to over €600,000. The company is building a comprehensive solution to address the critical challenge of Web3 discoverability and data standardisation.
The Grid provides an open, independent, and auditable reference dataset that powers Web3 directories and platforms. By standardising and distributing accurate metadata about blockchain projects, assets, and companies, The Grid enables platforms to better serve both retail and institutional users while reducing compliance costs.
The Grid was founded by two experienced entrepreneurs who chose the Netherlands as their base of operations over nine years ago, drawn by the country's vibrant tech ecosystem. CEO Jonathan Knegtel previously founded Blockdata, a blockchain data platform acquired by CB Insights in 2020, and was the first employee at Dealroom, a prominent European startup data platform. CLO Jordan Hatcher brings over 13 years of senior legal and operations experience from rapidly scaling tech companies, including roles as General Counsel at tech unicorn Staffbase and Senior Counsel at Optimizely in their Amsterdam HQ.
The Grid's origin story is quintessentially Amsterdam, with the two founders meeting after regular visits to the same local coffee place in the Haarlemmerbuurt on the same street they both live. Their shared passion for data brought them together - Jordan co-wrote the Open Data Commons suite of licences and was involved in many semantic web and linked open data projects, while Jonathan Knegtel's deep experience analysing and reporting on the blockchain space as a self-described "data nerd & techno solutionist" led him to identify the critical need for standardised Web3 metadata.
"Amsterdam's position as a gateway to Europe, combined with its cosmopolitan atmosphere and deep talent pool, makes it the ideal location for building a global tech company," said Jordan Hatcher, CLO of The Grid. "Like many tech professionals, I was initially drawn to the Netherlands in part by the 30% ruling tax benefit. But what's kept me here long after that expired is Amsterdam's vibrant tech ecosystem and exceptional quality of life. It's a great place to build The Grid and tackle the challenge of Web3 metadata standardisation."
"Today, there are over 500 platforms showing Web3 metadata, all struggling to keep their information accurate and up-to-date," said Jonathan Knegtel, CEO of The Grid. "We're building the infrastructure that will enable these platforms to access reliable, standardised data, making Web3 more discoverable and accessible for everyone."
"The blockchain and Web3 ecosystem has matured significantly, but fragmented and inaccurate metadata remains a major barrier to adoption," said Frank Appeldoorn, Managing Partner at Arches Capital. "The Grid's approach to solving this fundamental infrastructure challenge, combined with the team's deep expertise in both data and blockchain, made this a compelling investment opportunity for our network."
The funding will be used to expand The Grid's research and technical teams, enhance its API capabilities, and accelerate the mapping of Web3 ecosystems. The company's API is already live and gaining traction, with initial integrations underway. To see their early work in the Solana ecosystem, check out their X profile at: https://x.com/TheGridData
About The Grid
The Grid is building the standard for Web3 metadata, enabling platforms to provide accurate, up-to-date information about blockchain projects, assets, and companies. By solving the fundamental challenge of data standardisation and distribution, The Grid is making Web3 more discoverable and accessible for both retail and institutional users. Founded in Amsterdam by experienced tech entrepreneurs, The Grid is backed by Arches Capital and prominent angel investors.
About Arches Capital
Arches Capital is a fast-growing Dutch angel investment network, bridging the gap between angel investors and venture capital. Its unique approach combines the expertise and network of angel investors with the professionalism and portfolio management of venture capital
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The Grid, Tussen de Bogen 6, 1013JB Amsterdam
media@thegrid.id
https://thegrid.id/
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