Singapore-based Web 3 firm BuildBear Labs has announced a successful fundraising journey, securing approximately $1.9 million to propel the growth of our flagship platform.

The round was co-led by Superscrypt, Tribe Capital, 1kx, with participation from Iterative, Plug-N-Play, and several notable angel investors including Kris Kaczor (creator of Typechain and DethCrypto), Ken Fromm (ex-Ethereum Enterprise Alliance), and many more, BuildBear said in a statement on Tuesday.

“The support from our investors will fuel the accelerated development of our flagship platform,” the firm said.

According to the statement, the firm is building the world’s first Web3 focused Automated and Continuous Testing Engine (ACTE), inspired by tools like BrowserStack that goes beyond standard testing to address the unique complexities of the Web3 landscape.

The firm has been actively validating their product-market fit for over a year through their first offering: BuildBear Sandbox.

This pioneering solution empowers developers to craft tailored private testnets, complete with explorers, faucets, and RPCs, facilitating rigorous dApp testing within a secure environment.

This approach also enables developers to easily identify and address vulnerabilities before launch, instilling confidence prior to deployment.

With a growing web3 developer user base, creating more than 7,700 sandbox testing environments, BuildBear boasts an impressive active retention rate exceeding 35 percent and has witnessed a phenomenal growth rate of 8 times in the last one year.

In conjunction with this fundraising announcement, BuildBear also unveiled its latest milestone, upgrading to an ultra-powerful engine, with 100 percent throughput to continue to improve its user experience.

With this release, BuildBear will offer the most powerful engine available on the web3 market.

This significant upgrade underscores the firm’s commitment to innovation and signifies just one of the many advancements made possible by the increased resources resulting from their recent fundraising success.

According to the statement, BuildBear also extends its commitment beyond its own platform by actively collaborating with industry leaders like RemixIDE, Saffold-ETH, Cookbook, and SolidityScan among others, fostering a collaborative environment conducive to shared knowledge and innovation within the Web3 development sphere.

BuildBear is a specialized platform dedicated to dApp development and testing, offering developers the ability to craft customized Private Testnet sandboxes across multiple EVM and EVM-compatible blockchain networks.

With key features including private faucets for unlimited Native and ERC20 token minting, the firm empowers developers to build and test dApps with confidence and efficiency.

An OG in the world of Web3, its Founder Dipesh previously created one of the most successful dApps, DeFiZap (now, proving his deep understanding of the Web3 landscape.

Subsequently, Dipesh single-handedly managed the Blockchain Infrastructure for a Securities Exchange built on Ethereum for the Singapore Stock Exchange, showcasing his ability to handle complex, mission-critical projects.

Beyond his technical skills, Dipesh actively contributes to the developer community, having mentored at Consensys Academy.

Since 2022, he has been collaborating with Emmanuel (Co-founder) to turn their shared vision for BuildBear into reality.

Known for pushing the boundaries of technology, Emmanuel previously played a key role in designing Async Rust for the Rust language.

His open-source contributions are equally impressive, with his project Valerie boasting over 350 stars.

As the developer of the Typesense Rust Client, Emmanuel brings a depth of experience in building scalable and efficient solutions.

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