coindesk.com
Crypto data provider Kaiko said it extended a four-year-old funding round to $110 million following an investment led by S&P Global in another sign of the convergence of digital and traditional finance.
Kaiko announced the Series B in May 2022, when it raised $53 million, tripling its valuation, which remains undisclosed. A year earlier, the firm closed a $24 million Series A funding round led by Anthemis and Underscore VC. The new money will be used to expand its data infrastructure to support the growth of 24/7 digital markets, the firm announced Monday.
The blockchain analytics firm did not immediately respond to a CoinDesk request for further information.
S&P Global was joined in the round by BNP Paribas, Coinbase Ventures, Nasdaq, Royal Bank of Canada and Stellar among others, Kaiko said.
“Digital asset markets operate 24/7, and the infrastructure supporting them must do the same,” Kaiko said, adding that the funding demonstrates that institutions running today’s capital markets are investing in the data infrastructure required to operate tokenized markets.
Kaiko, founded in France in 2014, said it would use the funds to strengthen its data business and expand its product offering, which serves more than 150 exchanges and blockchain protocols.