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Kaiko, a Paris-based crypto market data provider, has secured $24 million in a Series A round led by Anthemis and Underscore VC.
Point Nine, Alven and Hashkey Capital also participated in the round. The money will be used to for product investment and to help Kaiko expand in North America and Asia.
“The immense interest we have received from institutional investors over the past year has bolstered our core mission and we are more motivated than ever to continue building data infrastructure that enables interoperability between digital finance and the traditional financial sector,” said Ambre Soubiran, founder and CEO of Kaiko.
Kaiko wants to become the go-to source for consolidated financial market information in crypto. Customers of its trade and order book data feeds include the likes of CoinShares, Messari, Paxos and Ledger.
In tandem with announcing its Series A raise, the startup has unveiled Kaiko Stream, a new service that connects institutions to consolidated crypto data feeds that are akin to traditional financial data products.
Kaiko closed a $5 million seed raise in September 2019, again led by Anthemis, with Kima Ventures, Point Nine Capital, ConsenSys Ventures, Olymp Capital and CoinShares also participating.
Data startups in the crypto sector are drawing a lot of investor attention at present. CryptoCompare, the London-based data firm, last week secured a strategic investment from VanEck, the asset management giant.