Kaiko Raises $110 Million With S&P Global Leading the Round
S&P Global is leading the new investment, alongside BNP Paribas, Nasdaq, and Coinbase Ventures. Kaiko wants to keep building out its 24/7 data infrastructure for tokenized markets.
Key Takeaways
- Kaiko has expanded its Series B to $110 million, with S&P Global leading the new investment.
- BNP Paribas, Coinbase Ventures, Nasdaq, Royal Bank of Canada, and Stellar also took part in the funding round.
- Kaiko wants to use the capital to keep building out its data infrastructure and product lineup for 24/7 digital markets.
Crypto data provider Kaiko has expanded its Series B to $110 million (€94.9 million), with S&P Global leading the new investment. The move highlights how traditional financial firms and crypto infrastructure are getting closer together, while Kaiko is betting on data for markets that never close.
More Money for 24/7 Data
Kaiko announced Monday that the four-year-old funding round has been increased. The company already raised $53 million (€45.7 million) in May 2022 in that same Series B, after a previous Series A of $24 million (€20.7 million) a year earlier. The new funding is meant to be used to further expand the data infrastructure for the growth of digital markets that operate day and night.
Kaiko said digital asset markets run 24/7 and that the infrastructure has to match that. According to the company, the round shows that institutions running capital markets today are investing in the data infrastructure needed for tokenized markets. Kaiko did not immediately respond to a request for additional comment.
Big Names Join In
Along with S&P Global, BNP Paribas, Coinbase Ventures, Nasdaq, Royal Bank of Canada, and Stellar also took part in the round. For Kaiko, that is a notable mix of traditional financial institutions and crypto companies. The company, which was founded in France in 2014, says it wants to strengthen its data business and expand its product lineup.
According to its own statement, Kaiko provides services to more than 150 exchanges and blockchain protocols. That makes the company relevant in a market where reliable price and trading data are becoming more and more important, especially now that more players are tracking crypto through regulated and institutional channels.
Nasdaq's interest also fits that trend: the exchange operator is already putting its market data on blockchain to make depth-of-book and order imbalance information more widely available for financial applications.
Why This Matters
For European crypto followers, this deal is mainly interesting because it shows how strong the demand for professional market data remains. That lines up with a broader trend in which institutional players are putting more money into crypto infrastructure and more often choosing regulated access to the market. The involvement of names like S&P Global and Nasdaq also shows that crypto data is increasingly being treated as a core building block of the financial market.
