Amberdata, a provider of digital asset data to financial institutions, has raised $30 million in Series B funding, with Coinbase (COIN) and Nexo among the investors.
- The funding round was led by Knollwood Investment Company and also included contributions from Susquehanna International Group, Nasdaq Ventures, NAB Ventures and Chicago Trading Company, Amberdata announced Wednesday.
- Amberdata provides data and insights into blockchain networks, crypto markets and decentralized finance (DeFi) for financial institutions in order to spur institutional adoption of digital assets.
- "Institutional demand for digital assets has gone parabolic this market cycle, and Amberdata's data analytics solution gives institutional investors the market intelligence they need to meet client and proprietary information needs," said Tatiana Metodieva, head of corporate finance and investments at Nexo Ventures.
- The funding will be used to grow Amberdata's engagement with prospective clients across the U.S. and internationally. It comes around nine months after the company raised $15 million in Series A led by Citigroup. The U.S. banking giant is also among the investors in the Series B.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.