Citi leads $15 million Series A for crypto data startup Amberdata

advertisement

Amberdata, a crypto-focused data startup, has raised a $15 million Series A funding round led by Citi.

Other participants in the funding round include Franklin Templeton, Rovida Kruptos Assets and Galaxy Digital. The firm said that GoldenTree Asset Management executives, as well as existing investor HWVP, also led the round.

Amberdata said it would use the money to double its research and development staff and grow its market presence.

"Data and insights will continue to play a pivotal role in creating transparency and strengthening risk management frameworks for digital assets. We are excited to be leading their Series A and supporting the team on their next phase of growth," Siris Singh, the Americas head of markets strategic investments for Citi, said in a statement. 

Amberdata's raise represents the latest example of data companies in the crypto space attracting venture funding, and Citi's lead involvement again highlights the banking world's interest in such companies. In May, Goldman Sachs led a $15 million Series B round for Coin Metrics. 

In August, Dune Analytics raised an $8 million funding round while Kaiko, a market data provider for the crypto market, raised $24 million in June.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Digital asset economy fuels instant settlements innovation

Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More