Chainalysis secured $170 million in a Series F funding round led by GIC, a sovereign wealth fund of Singapore. The company's valuation doubled to $8.6 billion from its round last June.
The funding news was first reported by The Information and comes at a time when investors are trying to come to terms with the crash in the market. The total market cap of cryptocurrencies has fallen to a ten-month low.
Prior to this new round, the firm had raised $366 million from investors. It opened offices in Singapore and Tokyo in 2020 to double down on its presence in the Asia-Pacific region.
Laura Shin, a journalist, was credited with helping track down the suspect behind the DAO hack, which resulted in a loss of $11 billion of ether.
As of the first quarter, the funding craze was still looking bright despite some investors worried about the crash. Nearly half of last year's total funding was poured into web3 startups in the first quarter of this year.
We have seen some mega funding rounds recently. A new round of funding is being raised by the Singapore-based Amber Group, which had just reached the status of a $100 million financing round. The valuation of the exchange surged to $10 billion after a $150 million raise.
Crypto boom continues as Chainalysis raises $100M, doubles valuation to over $2B
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