Coinalytics gets $1.1 million in seed funding

Investing | September 21, 2015 By:

Coinalytics announced that it has secured $1.1 million in seed funding from The Hive, an incubator for technology startups.

The funding will go towards building the company’s sales team and other growth areas.

Coinalytics CEO Fabio Federici suggested that the availability of advanced data analytics and intelligence for Bitcoin technology is a key step in the blockchain’s evolution.

With the funding, the Coinalytics also said that it has unveiled a “data science layer for the blockchain”, which “applies advanced machine learning and distributed systems to cryptographic platforms, enabling enterprises in a variety of industries like online payments, financial services and decentralized applications to make smart decisions in real-time, while maintaining data privacy and trust.”

Coinalytics is a startup that creates tools to gain deep, sophisticated insights into blockchain data.