AI-driven financial research platform SoSoValue successfully secured $15 million during its Series A funding round. This round was primarily headed by HSG and SmallSpark, with additional support from Mirana Ventures and SafePal. This investment has elevated the startup’s estimated worth to a staggering $200 million.
The freshly obtained funds are primarily earmarked for developing SoSoValue Indices (SSI), a protocol designed to streamline crypto investment. This protocol specializes in providing tokenized bundles that represent a variety of cryptocurrencies, making it easier to invest in the crypto market. As per the announcement, this approach will make investing in crypto indices more user-friendly and efficient.
About SSI Protocol
Initiated as a beta version on the Coinbase’s Base chain in December, the Secure Settlements Infrastructure (SSI) Protocol debuted four SSI tokens: MAG7.ssi, MEME.ssi, DEFI.ssi, and USSI. These tokens symbolize various investment assets bundled together, with a monthly automatic rebalancing feature that simplifies market tracking for investors.
In just two weeks after its release, more than 10,000 distinct digital wallets were holding SSI tokens, according to the official announcement. These tokens utilize on-chain smart contracts for managing diversified multi-asset portfolios, with the underlying assets being safeguarded by licensed custodians to ensure maximum transparency. The token holders are required to pay a small daily tech service fee of 0.01%.
As an analyst, I’m excited to share that in the near future, SoSoValue intends to unveil an open-source tool for crafting custom indices. This innovative tool empowers professional investors to craft distinctive strategies and mint personalized tokens. In Jivvva Kwan’s words, co-founder of SoSoValue, this tool symbolizes our dedication to fostering information and asset equality by enabling anyone to create their own indices.
SoSoValue’s Massive Growth
Beginning in early 2024, SoSoValue swiftly gained popularity as a favored destination for retail investors due to its delivery of practical insights via sophisticated AI technology. Boasting over eight million registered users within a single year, this platform has underscored the burgeoning interest in user-friendly tools within the crypto market.
Significantly, SoSoValue stands out for its Bitcoin exchange-traded funds (ETFs) capital flows dashboard, which is frequently utilized by investors to delve into fundraising trends and DEX pool data sourced from various exchanges and blockchains. Moreover, this platform was the pioneer in introducing tokenized spot indexes.
Apart from the SSI Protocol, the company intends to utilize funds from their recent funding round to grow their engineering, marketing, and business development departments. This growth will enable them to launch new products soon. It’s worth noting that SoSoValue previously obtained $4.15 million in a seed funding round in June for the purpose of upgrading its data services and expanding its international researchers’ network. The anticipated expansion of SoSoValue is expected to elevate the quality of crypto research and investment practices.
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2025-01-08 15:08