PYOR raises $4mn in seed funding led by Castle Island Ventures
1 min read 18 May 2023, 06:52 PM ISTWith this funding, PYOR will expand its core infrastructure and product platform, specifically by enhancing its interpretation layer for digital assets
PremiumPYOR (Power Your Own Research) has raised $4 million in its seed round led by cyrpto asset venture firm Castle Island Ventures.
The round saw participation from other investors, including Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and angel investor Balaji Srinivasan.
Krishna Hegde, co-founder, PYOR, said, “Since launching PYOR last year, we've been laser-focused on building the industry standard for digital asset platforms. Unlike other asset classes, digital assets are primarily driven by retail investors, and institutional-grade infrastructure for decision-making has been limited. Despite digital assets having a market capitalization exceeding $1 trillion, there is a significant need for effective data infrastructure to facilitate institutional participation. We aim to leverage the capital raised to bolster our mission and drive substantial progress within the global digital assets ecosystem."
With this funding, PYOR will expand its core infrastructure and product platform, specifically by enhancing its interpretation layer for digital assets. The funds will also be allocated towards team expansion in India and hiring for various new positions.
“The PYOR team is building critical auditable infrastructure for the crypto industry. Their experience ushering in crypto investors at CoinSwitch highlighted the need for standardized, institutional-grade data and analytics to bring in the next wave of crypto investors," added Sean Judge, General Partner at Castle Island Ventures.
Founded in August 2022 by Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu, PYOR aims to provide key insights on digital assets through a tailor-made desktop analytics interface. Their target customer segments include analysts at global asset management companies, hedge funds, investment banks, wealth advisors, crypto entities (exchanges, projects), and venture capital.
Currently in private beta, PYOR recently introduced its Terminal product, a plug-and-play data terminal that enables institutions to access fundamental blockchain data and create private queries through a customised dashboard tailored to their requirements.
