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Finance

Blockchain Analytics Firm Kaiko Raises $53M Series B Led by Eight Roads Amid Bear Market

The investment will enable Kaiko to further strengthen its institutional data products and infrastructure, it said.

By Eliza Gkritsi
AccessTimeIconJun 28, 2022 at 9:30 a.m. UTC
Updated May 11, 2023 at 6:54 p.m. UTC
Paris, France (allewollenalex/Unsplash)
Paris, France (allewollenalex/Unsplash)

Kaiko, the Paris-based blockchain analytics company, raised $53 million in a Series B funding round, it said in a press release Tuesday.

  • The funding comes in a bear market that has seen bitcoin lose over half its value this year. The round tripled the firms' valuation, according to Bloomberg. A Kaiko representative confirmed the Bloomberg report to CoinDesk via email.
  • The round was led by early Alibaba (BABA) backer Eight Roads. growth equity investment fund Revaia, French venture capital (VC) firm Alven, Berlin-based VC Point9, fintech investment firm Anthemis and VC Underscore.
  • The Paris-based firm offers institutions such as Deutsche Borse data from over 100 centralized and decentralized exchanges, including historic information dating back over 10 years.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter