Crypto Data Provider Kaiko Gets $53M To Enhance Product Suite

key takeaways

The $53 million investment round comes as venture capital funding in crypto is beginning to wind down
Funding, Kaiko said, will also be used to further strengthen its position by bolstering its suite of products

Institutional and enterprise crypto data provider Kaiko said Tuesday it has raised tens of millions in a Series B funding round in a bid to strengthen its infrastructure and product offerings.

London-based Eight Roads — which has a 50-year investment history and manages $8 billion in assets — led the $53 million round with participation from growth-equity investment fund Revaia. Existing investors Alven, Point9, Anthemis and Underscore also participated, according to a statement Tuesday.

Its latest injection of capital follows a previous $26 million Series A funding round with a post-money valuation of $93.6 million at the time, roughly a year ago. The valuation stemming from Kaiko’s latest round was not disclosed.

Kaiko’s funding comes as the crypto downturn begins to chill venture capital flows. Crypto firms have received a total of $3.65 billion in venture funding for the month of June to date, down from May’s total of $4.21 billion, data from Dove Metrics shows.

Venture funds outside the digital asset space are also flashing signs of a drop in total realized and unrealized returns versus capital invested, as macroeconomic factors — including rising interest rates — begin to take effect, research by data provider PitchBook shows.

Kaiko said its injection of capital will also help expand its global presence. The firm currently has offices in Paris, London, New York and Singapore.

“The blockchain industry has experienced tremendous institutional interest and with it, the need for high-quality data has never been greater,” Kaiko CEO Ambre Soubiran said in the statement. “Over the next year, we will solidify our position as an industry leader of institutional data solutions, serving as a critical bridge between centralized and decentralized financial marketplaces.”

Founded in 2014, Kaiko offers a suite of products including market data, portfolio solutions, rates and indexes, pricing services, decentralized finance data as well as digital asset research. The company’s clients include ICE Global Network, Deutsche Börse, Oanda, Bloomberg and some of the largest asset managers and investment banks across North America and Europe.

The provider counts companies such as Coin Metrics, CryptoCompare and Simplex as major competitors in the heavily contested crypto data analytics arena.

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