Nansen, a Blockchain analytics startup, secured $75 million in its new investment round headed by Accel with participation from Andreessen Horowitz and Tiger Global, a tech investor on this Thursday.
The funds acquired in the round will be used to develop the functionality on the company’s Blockchain analytics website, helping customers safeguard their Cryptocurrency digital assets, including polygon, Ethereum, and Binance smart chain.
Crypto firms have piqued the interest of top venture capitalists, despite regulatory authorities’ reservations about the alternative asset class’s potential for money laundering and other financial crimes.
Andrei Brasoveanu, Accel partner, said that fine-tuned tax and regulatory structure would only help to stimulate further market expansion by offering more certainty to its stakeholders. Singapore’s GIC and SCB 10X, a tech investor, were among the other participants in the Series B fundraising round.
According to statistics from the PitchBook, venture capitals invested around $21.4 billion in digital asset and Blockchain enterprises as of 1st October this year.
Brasoveanu believes there is a lot of growth potential in the firm bringing down on R&D and data coverage initiatives, given the surge of activity in the crypto, including the latest sectors like decentralized finance (DeFi) and non-fungible tokens (NFTs).
Nansen, which was established in 2020, has seen quick development and user acceptance from both retail and institutional investors, including Three Arrows Capital, Genesis Block Ventures, DeFiance Capital, Not3Lau Capital, and Acheron Trading. Top crypto teams such as Axie Infinity, Lido, and Polygon use Nansen’s platform, which has had a 20x rise in subscribers in the previous year.
Alex Svanevik, Nansen’s co-founder and CEO, said that for the firm, the year 2021 had been good and inspiring. They feel grateful for consumers’ enthusiasm towards the firm, and this funding will allow them to offer better service. The company can now enroll new client categories benefiting industry-leading on-chain insights.
The firm is ready to enter the growth phase, increasing our worldwide expansion, expanding data capabilities that will allow assisting the larger ecosystem of Blockchain, and offering global investors a top quality product to learn about the newest crypto trends helping to make better judgments.
Accel is a worldwide firm for capital firm investing in extraordinary teams throughout the world, from genesis to all stages of private business development. Arista, CrowdStrike, Dropbox, Deliveroo, DJI, Etsy, Facebook, Freshworks, Flipkart, and others are among the companies that have made it to the list.