The raise was led by Castle Island Ventures, with further investment from Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures, and prominent angel investor Balaji Srinivasan.

Commenting, 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 most asset classes, the digital assets segment is retail-led and, as a result, institutional-grade infrastructure for decision-making has thus far been limited. While market capitalization of digital assets is in excess of $1 trillion, there remains a glaring need for effective data infrastructure to facilitate institutional participation. We look forward to leveraging the capital raised to strengthen our mission and continue developing in the global digital assets ecosystem.”

Leveraging capital from this funding round, PYOR will drive the expansion of its core infrastructure and product platform by building out its interpretation layer for digital assets and accelerating global institutional participation in digital assets. This will be enabled through high-fidelity data and insights supported by high-quality execution. The funds will also be used to expand the team and hire across a number of new roles.

Sean Judge, General Partner at Castle Island Ventures, said: “The PYOR team is building critical auditable infrastructure for the crypto industry. We are thrilled to partner with Krishna, Sarmad, Sharan, and Yadunandan. 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.”

Founded in August 2022, PYOR aims to provide key insights on digital assets through a tailor-made desktop analytics interface. The founding team, Krishna Hegde, Sarmad Nazki, Sharan Nair, and Yadunandan Batchu, have more than five decades of combined experience within both the digital assets and traditional finance sectors. This collective experience with established global financial services firms such as Barclays, KPMG, EY, and multiple Indian unicorns, as well as building digital asset companies, will provide PYOR with the tools necessary to ensure the mainstream adoption of digital assets.

It’s been a busy start to 2023 for the PYOR team. The company, currently in private beta, recently announced the launch of its Terminal product. The plug and play data terminal enables institutions to access fundamental blockchain data and write private queries through a tailor-made dashboard that suits their needs.