Investment News: Funding Rounds by Nivaura and Coin Metrics and ICONLOOP Denies IPO Reports
Nivaura and Coin Metrics concluded seed funding rounds. Nivaura’s second seed extension amassed $20 mln. Coin Metrics raised a total of $1.9 mln. ICONLOOP said news of the firm going public is false.
Nivaura Concludes Second Seed Extension Round
The latest funding round of Nivaura, a blockchain startup specializing in the automation of financial vehicles, closed a second seed extension funding round raising a sum of $20 mln. The London Stock Exchange Group led the round and was participated by Santander InnoVentures, Digital Galaxy Group, Transamerica Ventures, Linklaters, Orrick, and Spencer Lake.
The seed round was concluded in October 2017. The first extension round closed on January 2018. This recent round, the second seed extension, is said to have closed ‘significantly larger’ than the previous two. No further information was provided by the startup.
Capital raised from the funding rounds will go to hiring manpower in all areas, including machine learning and natural language processing, as the firm seeks to expand into Asia and the US. Nivaura is also planning on injecting more funds for research and development.
Coin Metrics Closed a Seed Round; Announces Release of Commercial Products
Coin Metrics, a startup focusing on blockchain analytics, concluded a seed round. Castle Island Ventures led the round. $1.9 mln total investments were raised. Fidelity Investments, Dragonfly Capital, and Highland Capital Partners participated.
Along with this announcement, Coin Metrics introduced its suite of commercial products designed for institutions looking for personalized research reports.
Nic Carter, co-founder of Coin Metrics, stated that existing price aggregation services fail to differentiate between data sets. With this, institutional investors are dissatisfied. ‘One thing we’re looking at is building out whitelists of exchanges so that the market reference rates are actually based on credible exchanges, as opposed to exchanges that engage in wash trading and other types of nonsense,’ Carter communicated to CoinDesk.
At the same time, Coin Metrics is a provider of blockchain data analytics. Carter described the startup’s method as offering traders help to scythe away all the noise by delineating activity patterns on the blockchain. He is quoted as saying, ‘Not all of this is meaningful and economic, only a fraction of this is.’
ICONLOOP Rebuffs News of IPO
Jonghyup Kim, CEO of ICONLOOP, told CoinDesk Korea that news of the firm going public through IPO is ‘not true at all.’ He called the reports ‘misinformation.’
The report stemmed from Pulse News, a South Korean media outlet, alluding to a source saying that ICONLOOP is preparing to be listed on the country’s securities exchange operator, the Korea Exchange. ICONLOOP is the developer of independent blockchain project, ICON. The project (ticker: ICX) is the 39th most valuable cryptocurrency based on market capitalization.