Wednesday, October 5, 2022

Crypto Data Provider Kaiko Pulls $53M Amidst Dwindling Market

Crypto analytics firm Kaiko, pulled $53 million from in series B round despite the downward trend of prices in the market. With the announcement of the new funds, the firm said it has tripled its valuation following its last funding round in 2021.

The round which was chaired by Eight Roads also enjoyed participation from several new and existing investors. The investors in the round include Alven, Underscore, Anthemis, and Point9.

Kaiko plans to scale its operations globally from Paris, Singapore, London, and New York where it currently has a presence.

Kaiko’s CEO Ambre Soubiran believes there’s a need for high-quality data as the blockchain industry has enjoyed tremendous growth and interest from investors.

The new funds will be used to improve its infrastructure and its institutional data offerings. This she said will position the firm as a primary solution for market data.

Established in 2014, Kaiko is a market data solutions provider in the blockchain-centered digital asset space. It offers professional investors and other players with a broad range of financial data for several market activities. 

Its product offerings include market data, portfolio solutions, rates and indices, pricing services, Decentralized Finance (Defi) data, and research. It offers service to several industry giants that including Paxos, and Messari amongst others.

In a bid to consolidate its position, the firm has invested in data security through the acquisition of SOC-2 type 1 accreditation in February.

Additionally, the firm recently acquired Kesitys, a risk optimization provider, and also partnered with Coinshare for the launch of Kaiko Indices.

Investment in the crypto space

While there has been an air of uncertainty in the cryptosphere as a result of dwindling market prices, it has not deterred investors from funding promising crypto firms and projects.

Earlier in the month, Delphia, a stock advisor which operates using algorithms, received $60 million in funding. The funds were dedicated to facilitating its infrastructural growth.

Magic Eden, a Non-fungible Token (NFT) marketplace on the Solana network also recently raised $130 million. With the new funds, it earned the unicorn status joining the likes of OpenSea and LooksRare.

 

Joyce Onose
A Blockchain enthusiast and growing writer in the space with an understanding of the importance in creating quality content for readers in the industry. Also, keen on using her skills in improving Blockchain journalism.

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