Coinbase Ventures Invests in Nomics’ $3 Million Series A
Boston and Minneapolis-based Nomics, a cryptocurrency data startup, has closed a $3 million Series A led by Arthur Ventures, with notable participation by Coinbase Ventures, Digital Currency Group and BitGo co-founder Ben Davenport.
⚡️ “Nomics Series A Fundraising Announcement”https://t.co/EvrCB8RDQN
— Nomics Crypto (@nomicsfinance) December 18, 2018
The company announced Tuesday that the funds raised will be applied to building out its engineering team, in addition to fueling efforts to index “95 percent of all data” for how digital assets are exchanged.
“While it’s a fairly trivial task to price (and have listings for) 95 [percent] of all cryptoassets, getting raw ticks/trades, all on-chain data, and orderbook data (including historical order book) for these assets can prove to be quite an engineering challenge,” Nomics CEO and co-founder Clay Collins told CoinDesk.
Nomics currently offers free API access and hopes to expand the range of available data as the company continues to expand. According to the release, Nomics has indexed more than 3.5 billion crypto data points and currently sees around 35 million API calls each month.
Other participants in the Series A round include CoVenture Crypto, CityBlock Capital, King Capital, Polymath and TokenSoft.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.