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PYOR bags $4mn in funding to scale the digital assets business

PYOR (Power Your Own Research), a leader in providing the digital assets market with high-fidelity data and insights, recently announced $4 million in funding in a seed round.

The funding was led by Castle Island Ventures, with further investment from Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and prominent angel investor Balaji Srinivasan.

Krishna Hegde, Co-Founder of PYOR, commented, “Since launching PYOR last year, we’ve been laser-focused on building the industry standard for digital asset platforms. Unlike most asset classes, the digital assets segment is retail-led and, as a result, institutional-grade infrastructure for decision-making has thus far been limited. While market capitalization of digital assets is in excess of $1 trillion, there remains a glaring need for effective data infrastructure to facilitate institutional participation. We look forward to leveraging the capital raised to strengthen our mission and continue developing in the global digital assets ecosystem.”

By expanding its interpretation layer for digital assets and speeding up global institutional engagement in digital assets, PYOR will expand its core infrastructure and product platform using funds from this funding round. This will be made possible by high-fidelity data, insights, and high-quality execution. The funds will also be utilized to grow the team and fill various new positions.

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.”

PYOR, established in August 2022, intends to offer crucial insights into digital assets through a specially designed desktop analytics interface. The founding team—Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu—combines more than 50 years of experience in the traditional finance and digital assets sectors. PYOR will have the resources necessary to ensure the widespread adoption of digital assets due to the aggregate experience of its members with well-known international financial services companies like Barclays, KPMG, EY, and numerous Indian unicorns.

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BRL Editorhttps://businessreviewlive.com
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