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Cryptocurrency market data provider Kaiko has secured 5 million euros (~$5.5 million) in a seed funding round, spearheaded by global financial services investors Anthemis Group and Point Nine Capital.
CoinShares, ConsenSys, and Olymp Capital, as well as business angels Dominique Reiniche and Christophe Chausson, joined the funding round as well.
As per a press release, the new capital injection will be used to expand its product offerings, grow its professional team, and open an office in New York to cater to the increasing demand for digital assets market data from high-level investors.
“The role of data providers in crypto-markets cannot be underestimated – the more informed investors are about the asset that they are trading, the more efficiently markets operate,” Ambre Soubiran, Kaiko CEO, said while expressing his delight to have Anthemis and Point Nine Capital onboard (as quoted by Institutional Asset Manager).
Founded in 2014, Kaiko is a market data provider in the blockchain-based digital assets space that aims to provide institutional investors and market participants with enterprise-grade data infrastructure. Its full suite of data services is intended for enterprise-level clients who need both low-latency and high-availability access to clean trade and order book data. The firm is developing the data infrastructure for a new asset class, which will allow investors to make informed decisions across more than 80 exchanges.
Over the years, there has been an increasing demand for Kaiko’s services from institutional investors, which has had a significant influence on its future plans. “Institutional interest guides our development approach, and has led to our investment in products that are at the quality that traditional financial market participants expect,” Soubiran said.
As part of these plans, Kaiko will present an aggregated order book data product that will enable investors to leverage level II data in trading decisions at Invest:Asia in Singapore this week.
“The provision of high quality data will be fundamental in driving enterprise adoption of crypto and accelerating the growth of cryptomarkets,” Pawal Chudzinksi, a partner at Point Nine, said.
Just recently, NASDAQ, the major stock exchange in the United States, has added crypto index Defix (DEFX) to provide markets information on blockchain projects working in the decentralized finance (DeFi) space. The index was launched by London-based brokerage firm Exante.
