Bangalore, India-based pioneer in enabling high-fidelity data and insights for the digital assets industry, Power Your Own Research (PYOR) raised USD 4 million in seed funding. The round took place on May 19, 2023. Castle Island Ventures led the financing for the company.
Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, and Coinbase Ventures joined in the financing. Meanwhile, prominent angel investors such as Balaji Srinivasan participated in the seed financing.
Purpose of financing for PYOR
PYOR intends to fund the expansion of its core infrastructure and product platform. It seeks to build out its interpretation layer for digital assets and accelerate global institutional participation in digital assets. The company intends to achieve this by enabling high-fidelity data and insights supported by high-quality execution. Meanwhile, PYOR strives to expand the team and hire across a number of new roles.
What the co-founder of PYOR has to add
Krishna Hegde, Co-Founder of PYOR, said, “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 the 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.”
What the investors have to add
Sean Judge, General Partner at Castle Island Ventures, further 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.”
About the company
Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu launched the company in August 2022. The company is currently in a private beta version. It recently announced the launch of its Terminal product. The plug-and-play data terminal enables institutions to access fundamental blockchain data and write private queries through a tailor-made dashboard that suits their needs. The institutional-grade digital assets platform provides the infrastructure layer necessary to support institutional investments. It further aids in evolving digital assets to the standard of traditional asset classes.
PYOR is on a mission to accelerate global institutional participation in Web3 by enabling high-fidelity insights and data via a desktop analytics tool.
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