Lukka, a crypto asset software and data supplier, announced on Friday that it had closed a $110 million Series E round, which valued the firm at more than $1.3 billion, according to its CEO Robert Materazzi.
Initiator of the capital round was Marshall Wace Capital Management, a London-based hedge fund that specializes in unconventional investment approaches.
New investors include Miami International Holdings, Summer Capital, SiriusPoint Ltd., and former Series D investors Soros Fund Management, Liberty City Ventures, S&P Global, and CPA.com, as well as existing investors Soros Fund Management, Liberty City Ventures, S&P Global, and CPA.com.
The funds will be used to assist Lukka in its growth and expansion strategy, which will include the establishment of new offices throughout the world. According to Materazzi, the company plans to open operations in Switzerland and Singapore by the end of 2021.
As bitcoin gained significant attention last year, several companies, ranging from Nike to well-established financial institutions such as Goldman Sachs, began to make investments in the technology.
While companies remained silent last year, Materazzi believes they were most likely putting the finishing touches on hidden plans that they will announce this year. “We’ll see a variety of businesses adopt crypto in a variety of ways,” he said.
Lukka’s CEO, Robert Materazzi, stated
“Within the previous year, our staff has nearly tripled in size, but we’re not finished yet,” he stated. “We will continue to expand our footprint and anticipate significant more headcount growth in various global locations,” he added.
According to Materazzi, the company has raised a total of approximately $210 million in funding.
About 16,000 crypto spot assets and 70,000 crypto derivatives are collected by Lukka’s algorithm, which also includes information from approximately 300 exchanges and approximately 30 decentralized exchanges.
Among the traditional financial firms and cryptocurrency companies that it services include Arca, Circle, CPA.com, eToro, IHS Markit, S&P Dow Jones Indices, and State Street.
As Materazzi explained, “we assist them in addressing the world’s most complex data difficulties,” which are becoming increasingly frequent as the crypto industry continues to innovate.
The CEO said, “It’s extremely tough to keep up with innovation,” but he stated that this is his company’s mission, along with guaranteeing that we can simplify all of the other data processes that develop as a result of the constant innovation.
As part of its ongoing effort to broaden i9ts data offerings, Lukka will publish more “thoughtful institutional data products” in the future, in addition to the ones that were published last year, according to Materazzi. After all, “at the end of the day, software is all about proper data management,” he explained.