Blue White Red – The French cryptocurrency firm successfully raises over $ 50 million as investors become less willing to put their capital into the industry. A French crypto player thus wins a victory, in a sector marked by the difficulties encountered by giants such as Coinbase.
Kaiko: a blue white red success for cryptocurrencies
A French rooster is crowing in the blockchain and crypto industry, as companies like Celsius ask for help to keep their heads above water.
First fruits! Kaiko is a Paris-based blockchain analytics firm that provides data from more than one hundred centralized and decentralized exchanges, to its partners such as Deutsche Boerse, ICE Global Network, Messari and Paxos. The company provides its customers with historical information that can be traced back more than ten years.
act 1 ! Kaiko has raised 53 million dollars in a Series B funding round, according to a June 28, 2022 press release. This funding campaign tripled the company’s valuation since its previous fundraiser. Kaiko, however, refrained from disclosing exact figures.
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Scarce capital, reserved for the most promising
Kaiko CEO Ambre Soubiran and her team have managed to convince investors that they are now looking twice before committing their capital to a cryptocurrency-related business.
” We were really, really under surveillance “Emphasizes Ambre Soubiran. Investors would look into everything in order to best secure their investment.
Despite this excessive caution, due to the bearish environment, the funding round led by Eight Roads, one of Alibaba’s first investors, ended successfully.
French venture capital firm Alven, Berlin-based Point9, and investment firms Anthemis and Underscore supported Kaiko along with Eight Roads.
Each financial contribution has a special taste for Kaiko and for the industry, while available funds are scarce for the sector.
However, despite slowing the deployment of their capital, venture capitalists are not ” don’t say “no” to really promising companies “, According to Alston Zecha, partner of Eight Roads.
French cryptocurrency nugget Kaiko manages to hold its own despite tremors affecting nearly the entire industry. This tri-color success once again raises questions regarding France’s potential to become a host land for blockchains and cryptocurrencies.
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