The crisis that the cryptocurrency market is going through is certainly not the same for everyone. Some investors see their investments melting like snow in the sun. But at the same time, there are opportunities to seize for those who remain confident in the future of this digital economy, which is still taking its first steps. With an ecosystem still under construction, whatever the trend. As proof of this, the recent fundraising of the French company Kaiko, for an amount of 53 million dollars.
When the cryptocurrency market shows signs of weakness, those who stick around say they’re there “for the technology”. † A reality if we imagine that we have to believe a minimum in this digital economy in order not to succumb with its prices† And a good time to identify the important – but also solid – players in this ecosystem. That is, not necessarily those who settle in endless streams in an effort to resist a bear market that is as cyclical as it is predictable.
But while some suffer, others just wonder how to spend the fortunes amassed during the 2021 bull market† For example, the FTX platform, whose CEO Sam Bankman Fried is looking for new acquisitions. With some recent rumors of a possible takeover of investment app Robinhood, which is very popular in the United States. Or, closer to us, the structure kaiko management of financial data related to the cryptocurrency market† The latter heads a $53 million fundraiser in the midst of the bear market.
Kaiko – A $53 Million Fundraiser
France is not known for its active support of companies in the cryptocurrency sector. It is even possible to say that its strategy in this regard more often resembles a spoke in the wheels of a nascent economy. That’s why it’s important to rejoice in the success of some, despite this hexagonal obstacle course. Which has just been confirmed by Kaiko, a company specializing in crypto data management for corporate and institutional investors† The latter is behind the recent acquisition of Napoleon Index, from European digital asset management company CoinShares. With the aim of offering “a set of crypto asset references regulated” by the Autorité des marchés financiers (AMF).
A development dynamic that seems to appeal to investors. Because the Kaiko company just completed the feat of raising $53 millions. This amid the bear market that is rocking the cryptocurrency industry just like the traditional economy. A Series B collection led by the Eight Roads structure, led among others by French venture capital firm Revaia. And a complex procedure, according to CEO Ambre Soubiran which at the same time underscores “the need for high-quality data” sparked by the growing interest in the blockchain industry.
† What was frankly difficult was the due diligence and closing process. Because we were really, really under surveillance. She (investors, editor’s note) went into great detail to ensure there was virtually no risk in the investment.†
Ambre Soubiran, CEO Kaiko
A success for this company founded in 2014. And whose acknowledgment appears on its website includes industry giants such as Messari, Ledger and Chainlink (LINK). But also renewed investor confidence. Because Kaiko had already raised $24 million about a year ago† But right now, in the midst of the bull market excitement, despite Bitcoin testing the $30,000 resistance.