S&P Global Leads Kaiko Funding Extension to $110 Million

Kaiko announced that S&P Global led a strategic investment extending the firm’s Series B to $110 million. The company said the additional capital will be directed at strengthening its digital-asset market-data business and expanding infrastructure to support continuous, tokenized markets.

Alongside S&P Global, a range of financial institutions and market-technology firms joined the round, including BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated in the financing.

Kaiko described the planned investments as aimed at delivering proprietary data to smart contracts, converting onchain activity into standardized offchain datasets, and enabling confidential valuation and analytics. The company said its data coverage spans more than 150 exchanges and protocols and pointed to tokenized Treasury bills, money market funds, equities and bonds as examples of markets that will need data systems operating beyond traditional trading hours.

Participating institutions have also joined a strategic industry working group chaired by Kaiko that will concentrate on the data and infrastructure requirements for bringing tokenized products into production. The deal builds on an existing product collaboration: on Sept. 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko Digital Asset Indices, a suite the firms said began with more than 4,000 rates and indices, with Kaiko handling data sourcing and calculation and S&P providing benchmark administration, licensing and distribution.

The $110 million extension more than doubles the original Series B announced in 2022; that earlier round, reported in July of that year, was led by Eight Roads and totaled $53 million with participation from Revaia and prior backers including Alven, Anthemis, Point Nine and Underscore.