PYOR (Power Your Own Research) has secured $4 million in funding during its initial seed round, with leading participation from Castle Island Ventures, a venture firm specializing in crypto assets.
Among the investors who took part in the round were Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and angel investor Balaji Srinivasan, as per reported by livemint.
Krishna Hegde, co-founder of PYOR, said, “Since launching PYOR last year, we’ve been laser-focused on building the industry standard for digital asset platforms. Unlike other asset classes, digital assets are primarily driven by retail investors, and institutional-grade infrastructure for decision-making has been limited. Despite digital assets having a market capitalization exceeding $1 trillion, there is a significant need for effective data infrastructure to facilitate institutional participation. We aim to leverage the capital raised to bolster our mission and drive substantial progress within the global digital asset ecosystem.”
PYOR plans to utilize the funding to bolster its core infrastructure and product platform, focusing on improving its interpretation layer for digital assets. Additionally, a portion of the funds will be allocated to expanding the team in India and hiring for various new roles.
“The PYOR team is building critical auditable infrastructure for the crypto industry. Their experience ushering in crypto investors at CoinSwitch highlighted the need for standardized, institutional-grade data and analytics to bring in the next wave of crypto investors,” added Sean Judge, General Partner at Castle Island Ventures.
In August 2022, Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu founded PYOR in order to provide useful data on digital assets through a tailored desktop analytics interface.
PYOR, currently in its private beta phase, has recently unveiled its Terminal product. This plug-and-play data terminal offers institutions the ability to access fundamental blockchain data and generate personalized queries using a customized dashboard that caters to their specific needs. The terminal empowers institutions with seamless access to valuable blockchain information and the flexibility to tailor their queries according to their requirements.
About PYOR (Power Your Own Research)
PYOR’s mission is to accelerate global institutional investment in digital assets by enabling high-fidelity insights.