Blockchain Venture Capital Completes Multi-million Dollar Investment
October 17, 2018
TokenInsight Raises Multimillion-Dollar Funding From Blockchain Venture Capital Firms
From blokt.com by Nick Tsakanikas Oct. 16, 2018
Blockchain company TokenInsight announced that it managed to secure a multi-million-dollar funding from Matrix Partners, Fenbushi Capital, and other venture capital firms. The company aims to expand its business overseas, as well as to enhance its existing portfolio of services
TokenInsight, Inc., an independent, third-party data analytics organization that provides ratings for blockchain companies, announced on Oct. 10 that it managed to raise a multi-million-dollar investment in a Series A financing round.
How TokenInsight Plans to Utilize Funding
The fundraising was led by Matrix Partners, a Chinese venture capital firm, and notable participants, including Draper Dragon, Fenbushi Capital, and existing seed investor Susquehanna International Group Capital (SIG). Matrix Partners China and Susquehanna Capital will join the board of directors to supervise and assist TokenInsight to expand its operations overseas, to further develop its internal database and algorithm systems, as well as to improve its dynamic rating and report services.
TokenInsight has automated its processes to create an independent rating standard, making token project data friendly for every user. Additionally, the company offers an array of services that include token rating API integration, exchange-traded funds and index products to cryptocurrency exchanges, and mobile applications. TokenInsight has provided its rating services to more than 600 tokens and published over 250 risk assessment reports up to date.
In a blog post, the company said:
“This is absolutely one giant leap in the process of upscaling our services and enhancing transparency of the blockchain marketplace. We’ve never been more profoundly convinced that TokenInsight is capable of dealing with the ups and downs along the road and explore our unique path in this rapidly growing industry. We look forward to expanding our influence worldwide in the near future.”
Becoming the Rating Standard in the Crypto Industry
TokenInsight just recently partnered with Binance Info and plans to establish cooperation with more cryptocurrency exchanges. While this practice will help TokenInsight improve its token research due diligence and its whole portfolio of services, the firm has a presence in traditional news agencies, blockchain media, and mobile applications, hoping to deliver an insightful platform for the public. The company aims to grow in the industry of cryptocurrencies and provide accurate ratings by establishing institutional project standards through a framework of applied data science, artificial intelligence algorithms, and due diligence processes.
While Matrix Partners China has been active for more than three decades in sectors such as mobile Internet, marketplace, software as a service, fintech, and digital healthcare, Fenbushi Capital firm was founded in 2015 and is merely focused on the development of the blockchain industry and applications that use the distributed ledger technology.
With this financial support, TokenInsight plans to expand its services by serving investment funds, research institutions, project teams, and the cryptocurrency community and become a leader in the crypto industry.