Amid bearish market sentiments, crypto data provider Kaiko announced on Tuesday it has raised $53 million in a Series B funding round to further consolidate its position globally and strengthen its institutional data products and infrastructure.
The round was led by Eight Roads, with participation from Revaia and existing investors Alven, Point9, Anthemis and Underscore.
"The blockchain industry has experienced tremendous institutional interest and with it, the need for high-quality data has never been greater. 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," Ambre Soubiran, CEO of Kaiko said.
Founded in 2014, Kaiko offers institutional investors market data, portfolio solutions, rates and indices, pricing services, DeFi data and research. The company currently has offices in Paris, London, New York and Singapore.
About a year ago, Kaiko had raised $24 million in a Series A round. The company had also recently acquired quantitative decision tools provider Kesitys and bought Napoleon Index from CoinShares, the crypto asset manager.
Most cryptocurrencies continued to trade in the negative on Tuesday, after registering similar trends in major crypto tokens in the previous session.
Compared to the beginning of the year, Bitcoin BTC/USD prices have nearly halved in value. Even as the largest digital currency by market capitalization hovers around the $21,000 mark, it is down nearly 69% from its all-time high seen in November last year.
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