Data analytics firm Messari closes a $4 million funding round led by Uncork Capital, with the participation of other top investors including Coinbase Ventures.
Uncork Capital has led a $4 million funding round that also saw funding from Coinbase Ventures for blockchain analytics firm Messari.
Who’s who of new investors
On Nov. 13, Messari announced that it had closed a $4 million funding round led by Uncork Capital, with participation from other top investors including Coinbase Ventures, Anthemis Group, Blockchain Capital, CoinFund, and former Coinbase CTO Balaji Srinivasan.
The data analytics firm intends to invest the raised funds into further automating its data ingestion process and its redistribution capabilities for registry clients, while broadening analytical product offerings for crypto professionals.
Founder of Uncork Capital Jeff Clavier, who will also join Messari’s board of directors, said that Messari is building much-needed infrastructure that is currently missing in the cryptoverse. He said:
“Ryan and the team at Messari are building critically needed infrastructure that is currently lacking in the crypto ecosystem. If crypto is going to become a mainstream asset class, it needs quality data that is open and transparent. The Messari team are pioneers in the industry, and have built a strong picks and shovels business in an otherwise volatile and unpredictable market.”
The announcement also said that in addition to aggregating disclosures and quantitative data on hundreds of tokens, the company also launched a wide variety of compliance tools aimed at the global market of funds, exchanges and brokers investing in cryptocurrencies.
Messari introduced new index following fake volume reports
In March, the cryptocurrency analytics firm launched a new product called Real 10 Volumes on its OnChainFX dashboard to limit its default volume calculations to the chosen exchanges. The “Real 10” trading platforms include Binance, Bitfinex, Bitflyer, Coinbase Pro, Gemini, Kraken and Poloniex, among others.
Messari’s decision to introduce the new index followed a report from major cryptocurrency index fund provider Bitwise Asset Management, which said that 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature.
Source: , CoinTelegraph
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