Crypto

Accel Leads a $75 Million Funding Round for Nansen

Blockchain Analytics Service Nansen to Incorporate DeFi Protocol Arbitrum

Nansen has raised $75 million from Accel, Andreessen Horowitz, Tiger Global, and other venture capital firms in a fresh investment round.

Nansen, a blockchain analytics platform, raised $75 million in a Series B fundraising round headed by Accel Ventures. The investment will help the former expand its global reach and produce more innovative product offerings for customers.

Nansen’s Most Recent Round of Funding

The information was revealed on the official website of the Singapore-based blockchain network. Several other venture capital firms, including Andreessen Horowitz (a16z), GIC, Tiger Global, SCB 10X, and others, contributed to the funding round.

The investment, according to Nansen, will help the company enter its next phase of growth and development. It also plans to offer cutting-edge platform features which include; multichain integrations, and worldwide expansion.

Nansen’s most recent investment round came in June of this year, 2021. Since then, the company has made significant improvements, according to the corporation. Broader blockchain support, ranging from Ethereum and Polygon to Binance Smart Chain (BSC), Fantom, Avalanche, Celo, and Ronin, are among them.

Nansen also ventured into the world of non-fungible tokens, participating in over 18,000 NFT collections. In addition, the organization hired 55 additional employees from 28 different nations.

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Nansen is ready to provide worldwide investors with a “world-class product to investigate the latest crypto trends and make more educated judgments” as a result of the most recent initiative, according to Svanevik.

According to Andrei Brasoveanu, a partner at Accel, Nansen’s fundraising round might bring “massive” potential. It has the potential to become the “go-to platform for crypto insights and data for investors.”

Previous Attempts by Nansen

The data analytics company launched support for Fantom Network, a decentralized smart contracts platform, in early October.

As a result, Nansen started displaying Fantom’s data on its dashboards. Michael Kong, Fantom’s CEO, had this to say about the situation:

“Nansen analytics will bring visibility to innovative projects on the network and amplify their successes. We’re excited about the increased usage Nansen will bring to Fantom and the incredible wealth of information that the analytics platform will make available.”

Surprisingly, Fantom Network’s native token, FTM, rose by 30% not long after the information was announced.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.