Crypto startup Nansen raises $ 75 million in startup funding led by Accel

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Dec. 16 (Reuters) – Blockchain analytics firm Nansen on Thursday raised $ 75 million in an undergraduate funding round led by venture capital firm Accel, with participation from Andreessen Horowitz and the technology investor Tiger Global.

The company intends to use the funds raised during the round to expand the functionality of its blockchain analytics platform, which helps users protect their crypto assets such as the ethereum, polygon, and binance smart chain. .

Crypto companies have sparked the interest of some of the world’s largest venture capitalists, even as regulators view the alternative asset class with skepticism because of its potential for money laundering and disruption. ‘other financial crimes.

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However, Andrei Brasoveanu, Accel partner, told Reuters, “A clear regulatory and fiscal framework would only serve to fuel the continued growth of the market, providing more clarity to all stakeholders.”

Other investors who participated in the Series B funding round include GIC Singapore and technology start-up investor SCB 10X.

Venture capital firms invested $ 21.4 billion in crypto and blockchain companies as of October 1 of this year, according to data from PitchBook.

Brasoveanu said that with the explosion of activity in crypto, including new areas like non-fungible tokens (NFT) and decentralized finance (DeFi), there is a lot of potential for growth in the business. because it doubles R&D and data coverage efforts.

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Report by Manya Saini in Bangalore; Editing by Amy Caren Daniel

Our Standards: Thomson Reuters Trust Principles.

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