Amberdata Raises $30M to Accelerate Crypto
Amberdata 30m 330m : Coinbase and Nexo also contributed to the investment round, which Knollwood Investment Company headed.
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Coinbase (COIN) and Nexo were investors in Amberdata’s $30 million Series B fundraising round. Amberdata is a distributor of digital asset data to financial institutions.
Knollwood Investment Company served as the round’s lead investor, and Susquehanna International Group, Nasdaq Ventures, NAB Ventures, and Chicago Trading Company also contributed, according to Amberdata’s Wednesday announcement.
Amberdata offers data and insights regarding blockchain networks, cryptocurrency markets, and decentralised finance (DeFi) to encourage the institutional use of digital assets by financial institutions.
According to Tatiana Metodieva, head of corporate finance and investments at Nexo Ventures, “Institutional demand for digital possessions has gone parabolic this market cycle. And Amberdata’s data analytics solution stretches institutional investors the market intelligence they essential to meet client and proprietary information needs.”
The money will increase Amberdata’s interaction with potential customers domestically and abroad.
Citigroup spearheaded the $15 million Series A funding round, which took place about nine months prior. The largest American bank is also a Series B investor.
A $30 million Series B fundraising round led by Knollwood Investment Advisory was announced by Amberdata, the top source of data on digital assets. The capital raise included participation from new investors Citi, Franklin Templeton, And also, Aspenwood Ventures, Rovida Kruptos Assets, Boldstart Ventures, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase, and Innovius.
Amberdata offers the top financial institutions in the world who are entering the digital asset class extensive data and insights on blockchain networks, cryptocurrency markets, and decentralized finance (DeFi).
However, this finance will support product innovation and extend go-to-market in the United States and globally to meet the rapid institutional adoption of digital assets.
Shawn Douglass, CEO of Amberdata, said: “The velocity of institutional acceptance of crypto is simply remarkable.” “Because the most important financial institutions in the world come to us for the crucial data they require for research, trading, risk management, analytics, reporting, and compliance as they enter the digital asset market, we have seen a twofold increase in revenue in the first quarter of this year. Amberdata is primed for rapid development.
This backing will enable us to expand our go-to-market operations globally, scale our sector-leading data infrastructure, and expand our top-notch customer success staff. It allows us to construct digital asset indices, market intelligence. And risk analytics products and expand DeFi’s depth and breadth faster. Our goal is to maintain our leadership position while continuing to establish the category for research applications and institutional digital asset data.”
To avoid sourcing and integrating data from several sources, Amberdata is the first provider of digital asset data to deliver granular historical and real-time fundamental (on-chain), DeFi, and market data. Major financial institutions select Amberdata as their reliable partner for access to digital asset data to avoid infrastructure setup, integration issues, and maintenance hassles. Which lowers the cost and time to market for joining the asset class.
Benjamin Blueweiss of Nasdaq Ventures said. “Nasdaq is thrilled to assist Amberdata as they bring comprehensive. High-quality digital asset market data and blockchain analytics to the financial community. “With the increasing use of digital assets and decentralized financial services. We are enthusiastic about the upcoming potential to cooperate with Amberdata. To provide distinctive insights to a larger group of stakeholders.”
“Traditional finance is sitting on a mountain of cash ready to be investing in cryptocurrencies and other digital assets. The platform from Amberdata is a crucial piece of infrastructure required to open up a brand-new institutional asset class. “Said Boldstart Ventures general partner Eliot Durbin.
We anticipate the company’s next growth phase as Amberdata begins developing DeFi applications. And analytics on top of its industry-leading data infrastructure platform.
However, Tatiana Metodieva, CFA, Nexo Head of Corporate Finance and Investments, continued. “Institutional demand for digital assets has gone parabolic this market cycle.
And Amberdata’s data analytics key gives institutional investors the market intelligence essential to meet client and branded information needs. Nexo Ventures’ goal is to advance the field of digital assets. And our investment in Amberdata will assist in creating a knowledge gap for new institutional buyers.
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