PYOR is a pioneer in enabling high-fidelity data and insights for the global digital assets industry. Today, it announced dollars 4 million of funding in its seed round. Castle Island Ventures led this round of funding. This was with additional investment from Force Ventures, Hash3, Antler, Future Perfect Venture, CoinSwitch Ventures, Coinbase Ventures, and investor Balaji Srinivasan.
The Co-Founder, Krishna Hegde, said that since launching PYOR the last year, they have focused on building the industry standard for digital asset platforms. Retail investors primarily drive digital assets. It is also the institutional-grade infrastructure for decision-making that was limited. Despite digital assets that have a market capitalization of more than $1 trillion, there is a need for effective data infrastructure to facilitate institutional participation. India has a strong talent base across analytics, blockchain, and technology domains, helping them deliver high-quality products to customers worldwide. They aim to leverage the capital raised to bolster their mission and drive progress within the worldwide digital assets ecosystem.
The company will expand its core infrastructure and product platform with the capital obtained from this funding round. This is specifically by enhancing its interpretation layer, which is for digital assets. They shall allocate the funds towards team expansion in India and hiring in various new positions.
Sean Judge, the General Partner at Castle Island Ventures, said the PYOR team is building critical auditable infrastructure. This is for the crypto industry. They are thrilled to partner with Sarmad, Krishna, Sharan, and Yadunandan. Their experience, ushering in crypto investors at CoinSwitch, highlighted the requirement for standardized and institutional-grade data and analytics to bring in the next wave of crypto investors.
Sharan Nair, Sarmad Nazki, Krishna Hegde, and Yadunandan Batchu founded PYOR in August 2022. The company aims to give key insights into digital assets. This is through a tailor-made desktop analytics interface. The company’s target customer segments include analysts at worldwide asset management companies and hedge funds. And it also includes wealth advisors, investment banks, crypto entities, and venture capital.
The founding team, Sharan Nair, Sarmad Nazki, Krishna Hegde, and Yadunandan Batchu, have more than 5 decades of combined experience. This is within both the digital assets and also the traditional finance sectors. This collective experience with established worldwide financial services firms like KPMG, Barclays, EY, and multiple Indian unicorns and building digital asset companies shall provide PYOR with the tools necessary to mainstream digital asset adoption.
PYOR had a busy start to the year 2023. It recently introduced its Terminal product, a plug-and-play data terminal in private beta. It enables institutions to access fundamental blockchain data and create private queries via a customized dashboard tailored to their needs.
