Kaiko, the blockchain-based firm data provider has collected almost €5 million through a seed-round startup funding program. The big investors, who participated in this funding, include Point Nine Capital, Anthemis Group and CoinShares.
Funding for Development of the Company
Kaiko is going to expand its horizon by adding more features and things. For example, their plan is to double their expert team and they will offer their products. Besides these two things, they are opening an office in New York, America.
Ambre Soubiran, the CEO of Kaiko said about its next goal after this achievement:
The entire Kaiko team is excited for this next chapter in our development and growth. We strive to continually our data services and product offerings, so that we can ultimately improve the legitimacy, professionalism, and respectability of digital asset markets.
The Focus in on the Enterprises
The firm claimed itself to be designed for crypto markets data provider. It is now focusing to provide enterprise data infrastructure as the big investors have shifted their attention towards it. As the company claims that its products are designed for enterprise-level clients who are in need of an easy procedure to access order book and trade.
Actually, this step towards the latest development is taken after the appreciation and feedback from various institutional enterprises. Recently, Meltem Demirors, the research analyst at CoinShares acknowledged that CoinShares is dependent on the blockchain data provided on a daily basis by Kaiko.
The Need for Valid Crypto Data
The crypto markets are spreading very fast and have success until now in attracting the attention of big investors. Similarly, the crypto traders have increased to an unprecedented level. So the demand for crypto data is increased immensely which has led to many sites providing volume trading data.
And according to a report, some are fake agencies and are looting the crypto fans. Therefore, there is a need for reliable and credible market data providers and Kaiko is one of them to serve this great purpose.
Ambre expressed her excitement on the seed funding round:
We are delighted to have raised a total of €5 million in seed funding, led by global financial services investors Anthemis Group and Point Nine Capital. Their combined expertise in financial services and technology will help us strengthen our position as the leading data infrastructure provider in the blockchain arena.