Kaiko tripled its valuation by raising new funds to increase its position in the crypto data market. Today, $53 million in Series B fundraising was disclosed by the cryptocurrency market data service Kaiko.
Blockchain analytics firm Kaiko raises $53 million from new and existing investors, despite a rout in digital assets https://t.co/Ivd4cnCF1k
— Bloomberg Crypto (@crypto) June 28, 2022
Eight Roads, an early supporter of Alibaba, led the fundraising round, which also included Revaia, Alven, Point9, Anthemis, and Underscore. Since its $23 million Series A round in June 2021, the company’s valuation has increased threefold with this most recent raise.
?Kaiko raises $53 Million in latest round of Series B funding?
— Kaiko (@KaikoData) June 28, 2022
The funding will enable Kaiko to further consolidate its position as the global industry reference for centralised and decentralised digital assets data services.
Read the story, here – https://t.co/VmvYcgyDQy pic.twitter.com/AnSPtj7aBs
The release from Kaiko stated, “With the growing institutional participation in digital assets, access to reliable, transparent, and regulatory-compliant market information has never been of greater importance.”
Ambre Soubiran, the CEO of Kaiko, referred to the previous two months as a “marathon” while describing the challenges of raising money amid the current weak market in cryptocurrency.
“What was challenging, in all honesty, was the due diligence and closing process because we were really, really under scrutiny.” “The hardest part was getting the whole thing across the finish line in the middle of a minus 80% downturn.”
Soubiran claimed that when customers look for solutions to the protracted unwind, the recent crypto crisis has been favorable.
Kaiko has been focused on enhancing its core products over the past 12 months, including significant purchases like Kesitys, a tool to enhance risk hedging, and CoinShares‘ Napolean Index. The establishment of Kaiko Indices was made possible by the purchase of the Napolean Index.
In February 2022, the firm made a further investment in data security by earning SOC-2 Type 1 accreditation. The certification was created by the American Institute of CPAs as an evaluation of a company’s security process.
Soubiran said, “Over the next year, we will solidify our position as an industry leader of institutional data solutions, serving as a critical bridge between centralized and decentralized financial marketplaces,”
Various financial and cryptocurrency companies, such as Bloomberg, Deutsche Börse, ICE Global Network, CoinShares, Chainlink, Paxos, and Messari, make up Kaiko’s clientele. With operations in Paris, London, New York, and Singapore, Kaiko can currently satisfy the unique data needs of regional markets.
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