Kaiko expands funding round to $110M led by S&P Global

S&P Global has led an investment that pushes Kaiko’s total funding to $110 million, a move that says at least as much about where institutional finance is heading as it does about one Parisian data company’s balance sheet. For context: S&P Global is the firm behind the S&P 500, the benchmark that roughly $10 trillion in assets tracks. When that company decides to lead a funding round for a crypto data provider, it is not a casual bet. From scrappy startup to institutional backbone Kaiko has been building its data infrastructure since well before institutional crypto was a mainstream conversation. The company raised $5 million in a seed round in 2019, followed by a $24 million Series A in 2021 and a $53 million Series B in 2022, backed by investors including Eight Roads and Revaia. That trajectory put Kaiko somewhere in the $80 million range of total funding before this latest round. The jump to $110 million represents a meaningful step up, and the identity of the lead investor matters more than the dollar figure. That vision already has a product attached to it. S&P Dow Jones Indices and Kaiko launched a co-branded suite called the S&P Kaiko Digital Asset Indice...