Blockchain analytics firm Kaiko has announced that it has raised $53 million in its latest Series B funding round. The round was led by Alibaba backer Eight Roads, alongside French venture capital firm Revaia and existing investors Alven, Point Nine, Anthemis, and Underscore. Raising Funds in the Middle of Market Downturn According to a report from Bloomberg, Kaiko’s latest Series B round tripled its valuation from its last round in June 2021, a spokesperson for the firm said, declining to provide exact figures. In an interview with the publication, Kaiko Chief Executive Officer Ambre Soubiran described the whole process of raising the funding round as challenging as investors are extremely cautious about deploying capital to crypto-linked businesses. “What was challenging, in all honesty, was the due diligence and closing process because we were really, really under scrutiny. They went into many, many details to make sure that there was barely any risk in the investment.” “Building the narrative around the series B pitch was not the hardest part. The hardest part was getting the whole thing across the finish line in the middle of a minus 80% downturn,” she added. Offering Crypto Market Data Founded in 2014, Kaiko offers institutional investors and businesses a mix of market data in crypto and DeFi, pricing services, indices, and industry research. Its clients and partners include Deutsche Boerse, ICE Global Network, Messari, ...
