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BTC Cryptocurrency data company Kaiko completed US$110 million in Series B financing, led by S&P Global
Kaiko, a well-known cryptocurrency market data service provider, announced the completion of a US$110 million Series B financing led by S&P Global. The financing attracted the participation of many institutions, including many banks, exchanges and dealers.
Kaiko was established in 2014 to provide institutional investors with market data and analytical services that meet industry standards, and provide cryptocurrency index products for tokenized assets and traditional markets. Its customer base includes banks, asset management companies, exchanges and other various financial institutions. The company claims the data sources it tracks cover more than 150 exchanges and protocols.
In terms of compliance and security, Kaiko has obtained SOC1 and SOC2 Type 2 certifications from four major audit institutions. In addition, its index business has been registered as a benchmark administrator in accordance with the EU Benchmark Regulation and is included in the Register of Benchmark Administrators of the European Securities and Markets Authority (ESMA).
Strong investor lineup
This round of financing has gathered a wide team of investors. In addition to leading investors S & P Global, participating parties also include Nasdaq, BNP Paribas, Coinbase Ventures, Royal Bank of Canada (RBC), DRW Trading, Susquehanna, Broadridge, Canton Network, Stellar and existing shareholders Anthemis, Point Nine Capital and Revaia Capital.
Existing supporters Anthemis, Point Nine and Revaia, who had previously invested in early rounds, also continued to participate in this Series B financing, demonstrating confidence in Kaiko's long-term development.
Fund Use and Strategic Vision
Kaiko plans to use the newly raised funds to expand two core segments of its cryptocurrency market data business: one is the existing digital asset data operation business; and the other is new infrastructure products focusing on on-chain capital markets.
It is worth noting that institutions participating in this round of financing also joined a "Strategic Industry Working Group" chaired by Kaiko. The working group aims to give institutions a say in the data standards and infrastructure needed to promote tokenized products into the mainstream market.
In-depth deployment of industry giants
Cathy Clay, CEO of S & P Dow Jones Indices, said the investment reflects the company's growing focus on this field and its strategic intention to launch a more aggressive offensive into the digital asset space.
Kaiko received US$53 million in Series B financing in 2022, with a valuation of about half of the current round. CEO Ambre Soubiran pointed out that the new investor lineup brings together major giants in the digital asset industry, and its business scope covers everything from pricing, trading, capital allocation to blockchain development.
Cathy Clay once again emphasized that this transaction marks the growing interest of traditional financial giants in the digital asset field and the increasing intensity of their layout.
