Kaiko, the Paris-based blockchain analytics company, raised $53 million in a Series B funding round, it said in a press release Tuesday.
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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.
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The round was led by early Alibaba 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.
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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.
Read more: Institutional DeFi Enabler? Data Firm Kaiko Probes DEX Liquidity With New Product
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