Nansen Raises $75M to Magnify On-Chain Info Choices

Nansen Raises $75M to Magnify On-Chain Info Choices

Nansen will enlighten the capital to develop its team and scale its recordsdata analytics capabilities.

Nansen has raised $75 million in a Series B funding round led by Accel.

Nansen to Magnify Info Capabilities

Nansen has joined the long list of crypto firms to enlighten a vital elevate this yr.

The info analytics platform has landed a $75 million investment in a Series B funding round led by Accel. GIC, Andreessen Horowitz, Tiger International, and SCB 10X all participated in the round alongside varied angel investors. The capital elevate follows Nansen’s $12 million Series A funding round in June and a $1.2 million seed elevate in October 2020.

Discussing the funding round and future plans, Nansen CEO Alex Svanevik acknowledged:

“We’re ready for a recent half of say, accelerating our worldwide expansion, scaling up our recordsdata capabilities to enhance the wider blockchain ecosystem.”

In a Thursday weblog put up, the firm printed plans to enlighten the brand new capital toward a “contemporary say half.” The funds will likely be spent on making contemporary hires, including contemporary product offerings, growing multi-chain integrations, and strategic global expansion into contemporary markets. The firm also acknowledged it would possibly perhaps perhaps in point of fact well maybe open products for institutions to job on-chain by capacity of its Utility Programming Interface and a recent analytics engine called Nansen Predict.

Nansen is one among the main blockchain analytics services, catering to each and each retail and institutional customers. It gives analytics tools for a diversity of public blockchains, including Ethereum, Polygon, Solana, Binance Successfully-organized Chain, Fantom, Avalanche, Celo, and Axie Infinity’s Ronin.

Nansen is handiest one among many crypto firms to raise funds to scale its operations in latest months. For plenty of months, quite loads of teams were asserting multi-million greenback raises on a frequent foundation as capital continues to flood into the placement. In some cases, firms win capitalized on the heated market to raise big sums. Most effective this week, the Bitcoin firm NYDIG launched it had raised $1 billion at a $7 billion valuation. FTX has also raised $1.32 billion at an $18 billion valuation this yr, and endless varied smaller startups win raised more modest sums.

Disclosure: On the time of writing, the creator of this share owned ETH and varied cryptocurrencies.

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