Paris-based cryptocurrency market data provider Kaiko has raised $24 million in a Series A funding round led Anthemis and Underscore VC.
Point Nine, Alven and Hashkey Capital joined the round for Kaiko as it bids to scale crypto financial data services for institutions.
The funding will be used to develop professional data products and support the company's expansion into North American and Asian markets, addressing leading financial institutions and blockchain market participants.
The latest round coincides with the launch of Kaiko Stream, a data service designed to connect institutional market participants with consolidated crypto data feeds.
The startup also plans to make hires in product, institutional sales, business development, and engineering as it builds a team already containing industry veterans from Euronext, HSBC and Silicon Valley Bank.
Sean Park, Anthemis founder Sean Park, who joins the Kaiko board, says: "We believe that Kaiko is providing invaluable information on the depth and structure of the market--data that is usually scattered, and even when publicly accessible, is technically challenging, time consuming and costly to meaningfully ingest.
For any capital markets transformation to take place, reliable and machine-readable data is necessary."