Kaiko, a blockchain data supplier for institutional investors and businesses, revealed on Tuesday that it had raised $53 million in Series B fundraising.

Eight Roads led the round, with participation from Revaia and previous investors such as Alven, Point9, Anthemis, and Underscore also participating.

Cryptocurrency’s recent downturn has removed more than $2 trillion from the $3 trillion recorded in 2021, making this current revelation even more significant.

Digital asset data provider notes that fresh funding will assist strengthen its position as a worldwide industry standard for central and decentralized blockchain data services.

As of 2014, Kaiko has been providing a wide range of market data, pricing services, indexes, and industry research in the crypto and DeFi space. Customers and partners like as Deutsche Boerse, ICE Global Network, Messari, and Paxos may benefit from the company’s data offerings to better analyze market patterns.

As of January, Kaiko has released its first ranking of cryptocurrency exchanges, with the goal of providing a comprehensive framework for comprehending the fragmented market.

Ambre Soubiran, Kaiko’s worldwide head, said that the company intends to consolidate its position as a leading provider of institutional data solutions in the next year after receiving the fresh capital.

‘Over the coming year, we will strengthen our position as an industry leader in institutional data solutions, acting as a key bridge between centralized and decentralized financial markets,’ added Soubiran.

Kaiko intends to increase its worldwide footprint in order to reach a broader audience with additional funding.

There are currently four worldwide offices in Paris, London, New York, and Singapore that enable the Paris-based crypto analytics organization to sell its goods and services in various areas.

ICE Global Network, Deutsche Börse, Oanda, and Bloomberg are just a few of the notable companies that have partnered with Kaiko.

Additionally, the company has negotiated deals with asset managers in Europe and North America who have not been named.

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