PYOR Raises $4 Mn In Seed Round Led by Castle Island Ventures
![PYOR (Power Your Own Research) Funding](https://thestartuplab.in/wp-content/uploads/2023/05/PYOR-Raises-4-Mn-In-Seed-Round-Led-by-Castle-Island-Ventures.png)
PYOR (Power Your Own Research), a pioneer in enabling high-fidelity data and insights for the global digital assets industry, has raised $4 Mn in a seed funding round.
Led by Castle Island Ventures, the round also witnessed additional investment from Hash3, Antler, CoinSwitch Ventures, Coinbase Ventures, Future Perfect Venture, Force Ventures, and prominent angel investor Balaji Srinivasan.
As per the startup, the freshly raised funds will help expand its core infrastructure and product platform, specifically by enhancing its interpretation layer for digital assets. Additionally, the raised funds will also be allocated towards team expansion in India and hiring for various new positions.
PYOR | Digital Assets Data Platform
Co-founded by Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu, PYOR is accelerating global institutional participation in Web3 by enabling high-fidelity data and insights for the global digital assets industry. As per Krishna, digital assets, unlike other asset classes, are primarily driven by retail investors, and institutional-grade infrastructure for decision-making has been limited.
Speaking about the funding, Krishna Hegde, Co-Founder of PYOR, said,
“Despite digital assets having a market capitalization exceeding $1 trillion, there is a significant need for effective data infrastructure to facilitate institutional participation. India has a strong talent base across blockchain, analytics and technology domains that is helping us deliver high-quality products to global customers. We aim to leverage the capital raised to bolster our mission and drive substantial progress within the global digital assets ecosystem.”
![PYOR | Digital Assets Data Platform](https://thestartuplab.in/wp-content/uploads/2023/05/PYOR-Power-Your-Own-Research-Team.png)
Accelerating global institutional participation in Web3, PYOR (pronounced Pure) aims to provide key insights on digital assets through a tailor-made desktop analytics interface. Currently in private beta, PYOR recently introduced its Terminal product, which is a plug-and-play data terminal, that enables institutions to access fundamental blockchain data and create private queries through a customized dashboard tailored to their requirements.
Its target customer segments include analysts at global asset management companies, investment banks, hedge funds, wealth advisors, crypto entities (exchanges, projects), and venture capital.
Commenting on the development, Sean Judge, General Partner at Castle Island Ventures, said,
“The PYOR team is building critical auditable infrastructure for the crypto industry. We are thrilled to partner with Krishna, Sarmad, Sharan, and Yadunandan. 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.”
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