PYOR Secures $4 Million Funding Round Led by Castle Island Ventures to Drive Institutional Participation in Digital Assets. PYOR (Power Your Own Research), a leading provider of high-fidelity data and insights for the digital assets industry, has successfully raised $4 million in its seed round of funding. The round was led by Castle Island Ventures, a prominent crypto asset venture firm, with additional investment from Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and renowned angel investor Balaji Srinivasan.
With this substantial capital infusion, PYOR aims to accelerate global institutional participation in digital assets by expanding its core infrastructure and product platform. The company plans to enhance its interpretation layer for digital assets, providing comprehensive data and insights to enable informed decision-making. Additionally, the funds will support the expansion of the team through new hires across various roles.
Krishna Hegde, Co-Founder of PYOR, emphasized the need for institutional-grade infrastructure in the retail-led digital assets segment. He stated, "The market capitalization of digital assets exceeds $1 trillion, yet there remains a critical need for effective data infrastructure to facilitate institutional participation. We are excited to leverage the capital raised to further our mission and continue developing within the global digital assets ecosystem."
Castle Island Ventures, a key investor in the funding round, recognizes the significance of PYOR's auditable infrastructure for the crypto industry. Sean Judge, General Partner at Castle Island Ventures, expressed enthusiasm for the partnership, stating, "We are thrilled to collaborate with Krishna, Sarmad, Sharan, and Yadunandan. Their experience in ushering in crypto investors at CoinSwitch highlighted the necessity for standardized, institutional-grade data and analytics to attract the next wave of crypto investors."
Founded in August 2022, PYOR aims to provide essential insights on digital assets through its tailored desktop analytics interface. The founding team, with a combined experience of over five decades in both the digital assets and traditional finance sectors, brings a wealth of knowledge from established global financial services firms and successful digital asset companies. This expertise positions PYOR to drive mainstream adoption of digital assets effectively.
PYOR has hit the ground running in 2023, with the recent announcement of its Terminal product. This plug and play data terminal offers institutions access to fundamental blockchain data and the ability to write private queries through a customized dashboard, tailored to their specific requirements. The company is currently in private beta, preparing to revolutionize institutional engagement with digital assets.
