Quick take:
- Existing investors HSG and SmallSpark led the round with Mirana Ventures and SafePal participating.
- The fundraising brings the total raised closer to $20 million following a $4.15 million seed round announced last year.
- SoSoValue leverages AI algorithms that analyse data from multiple sources and present it in an “intuitive dashboard.”
SoSoValue has raised $15 million in a Series A round led by existing investors HSG and SmallSpark. The fundraising also attracted participation from Web3-focused venture capital firm Mirana Ventures and crypto software company SafePal.
The Series A round brings the total raised closer to $20 million following a $4.15 million seed round announced in 2024. The round was closed at a valuation of $200 million, according to a press release on Wednesday.
The company plans to use the funds to launch the Investible Spot Index Protocol (SSI), following the ‘successful’ launches of four SSI tokens: MAG7.ssi, MEME.ssi, DEFI.ssi, and USSI (Delta-neutral funding-rate earning) on the Base chain as a beta test in late December 2024. SoSoValue says that within just two weeks of launch, “more than 10,000 unique wallet addresses have been shown to be holding SSI tokens.”
SoSoValue leverages artificial intelligence algorithms to gather data from multiple sources and present it in an “intuitive dashboard”. Users can use the platform to analyse crypto markets by asset types, including Dexes, ETFs and individual cryptocurrencies, as well as fundraising by Web3 startups.
The company says its Index Protocol “leverages on-chain smart contracts to repackage multi-chain, multi-asset portfolios into wrapped tokens that represent a basket of assets.”
Commenting on the announcement, Jivvva Kwan, co-founder at SoSoValue said in a statement: “ To further democratize investing, we plan to launch an open-source index creation tool, empowering professional investors to turn their unique market insights into actionable index strategies. This will enable anyone to issue their own indices, embodying SoSoValue’s commitment to information and asset equality.”
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