Ethereum Analytics Firm Nansen Secures $1.2 Million Seed Investment

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Nansen is a subscription-based Ethereum data startup bootstrapped by Alex Svanevik, Evgeny Medvedev, and Lars Bakke Krogvig.

Nansen Lands First-Ever Investment

Mechanism Capital and Skyfall Ventures led Nansen’s first-ever funding round with additional support from Robot Ventures, Volt Capital, Fabric Ventures, and others. Individual investors, including Ethereum developer Eric Connor, Anthony Yoon, and Sergei Chan from FTX and Deribit Exchange, also participated in the seed round. 

Robert Leshner, the founder of Compound Finance and Robot Ventures, said: 

“Proud to support [Nansen}, which is building the analytics & intelligence to make sense of the increasingly large & complicated decentralized finance (DeFi) industry.”

Nansen’s CEO Alex Svanevik told Crypto Briefing that the “top priority is growing the team, so we get more bandwidth to deliver on our roadmap.” 

However, we accepted that in order to hire top-tier talent (fast!), we had to offer a commitment beyond just a few months.

This fundraise lets us make that commitment.

— Alex Svanevik 🐧 (@ASvanevik) October 27, 2020

The wallet label database for millions of Ethereum addresses is Nansen’s strongest selling point.

Svanevik also told Crypto Briefing about new features in the pipeline, like tracking activities of smartest Ethereum and DeFi investors, alerts for notable transactions, and personalized dashboards for its customers.

He added:

“Finally, we will continue to work hard to ensure we have the best coverage and quality of wallet labels in the industry.”

Since its launch in April, the firm reportedly has acquired more than 1,200 customers who use Nansen for on-chain analytics and market signals. 

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