Kaiko raises $53M to grow its crypto data platform

French fintech startup Kaiko, which offers market intelligence for digital assets, has secured $53 million in funding to fuel expansion. The investment round, led by S&P Global, also attracted participation from Nasdaq Ventures, Coinbase Ventures, BNP Paribas and numerous other institutional investors. This brings Kaiko's total funding to $110 million, extending a $57 million Series B round it completed in 2022.

Kaiko, formally known as Challenger Deep SAS, aggregates market information from over 20,000 digital assets by sourcing data from blockchain logs, crypto exchanges, lending protocols - decentralized platforms facilitating peer-to-peer loans - and other blockchain-based systems. The platform's offerings include a real-time data service, Kaiko Stream, which leverages gRPC technology for faster data retrieval compared to the conventional REST API standard.

Kaiko also provides historical market datasets, downloadable in two-day intervals or synced directly with clients' cloud-based data warehouses.

Beyond raw data points like cryptocurrency prices and derived metrics such as implied volatility, Kaiko enables advanced users to tailor risk level calculations by adjusting evaluation criteria. A recently launched product, S&P Kaiko Digital Asset Indices, allows fund managers to monitor the real-time price of cryptocurrencies within their portfolios, with prices updated every few seconds.

The funding will be utilized for enhancing Kaiko's dataset breadth, improving its Kaiko Data Infrastructure platform that facilitates blockchain-based data sharing among partners, and potentially pursuing additional acquisitions. The company recently acquired Amberdata Inc. and Cometh SAS, bolstering its market intelligence capabilities.