PYOR (Power Your Own Research) has raised $4 million in a seed funding round to enhance its data infrastructure platform for the crypto and digital assets industry. The funding round was led by Castle Island Ventures and included investments from Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and angel investor Balaji Srinivasan.
Commenting on the PYOR’s successful seed funding round, Krishna Hegde, Co-Founder of PYOR, emphasized the unique nature of the digital assets segment.
He highlighted that unlike traditional asset classes, the digital assets market is primarily driven by retail investors. However, there has been a notable lack of institutional-grade infrastructure that is crucial for informed decision-making in this space.
Despite the market capitalization of Bitcoin and other digital assets surpassing $1 trillion, there is still a significant need for robust data infrastructure to support institutional participation.
PYOR aims to address the lack of institutional-grade infrastructure and data for decision-making in the retail-led digital assets segment.
The capital raised will support PYOR’s mission of developing the global digital assets ecosystem by strengthening its core infrastructure and product platform.
The company plans to build an interpretation layer for digital assets, enabling high-quality data and insights to facilitate institutional participation. Additionally, the funds will be used to expand the team and fill new positions.
Castle Island Ventures emphasized the importance of PYOR’s auditable infrastructure for the crypto industry and expressed excitement about partnering with the PYOR team.
Sean Judge, General Partner at Castle Island Ventures, said: “The PYOR team is building critical auditable infrastructure for the crypto industry.”
The team’s experience in onboarding crypto investors at CoinSwitch highlighted the need for standardized, institutional-grade data and analytics to attract the next wave of crypto investors.
PYOR, founded in 2022, provides comprehensive and accurate digital assets data specifically tailored for institutions. Its institutional-grade platform serves as the necessary infrastructure to support institutional investments and bring digital assets to the level of traditional asset classes.
PYOR’s goal is to drive global institutional participation in Web3 by offering high-fidelity insights and data through its desktop analytics tool.
The founding team of PYOR brings together extensive experience in both the digital assets and traditional finance sectors. With backgrounds at major financial institutions such as Barclays, KPMG, EY, and various Indian unicorns, as well as expertise in building digital asset companies, the team is well-equipped to ensure the mainstream adoption of digital assets.
PYOR has recently made progress with the launch of its Terminal product, which is currently in private beta. The plug-and-play data terminal allows institutions to access fundamental blockchain data and create custom queries through a tailored dashboard.
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