Kaiko raises $53M to grow its crypto data platform

Kaiko, a French startup that provides market intelligence about digital assets, has raised $53 million in funding.

S&P Global led the investment. Kaiko stated in its announcement of the deal today that Nasdaq Ventures, Coinbase Ventures, BNP Paribas and several other institutional backers chipped in as well. The deal extends a $57 million Series B round that the company originally closed in 2022.

Kaiko, officially Challenger Deep SAS, provides market data about more than 20,000 digital assets. It collects the information from blockchain logs, crypto exchanges and lending protocols, decentralized systems that allow users to issue loans to one another. Kaiko sells its data to financial institutions through a set of cloud services.

Customers who require access to market data in near real-time can turn to a service called Kaiko Stream. It’s based on gRPC, an open-source standard for building application programming interfaces. The technology is several times faster than the REST standard on which most APIs are based but can also be more complicated to use.

The company also offers access to historical market datasets. Customers can download them twice a day as a spreadsheet or have the company sync the records to their cloud-based data warehouses.