LocalGlobe, Illuminate Financial led $6.3 M seed funding raised by SG crypto firm Cloudwall
Cloudwall, a Singapore-based firm that manages digital asset risk, has secured $6.3 million in a seed round led by LocalGlobe and Illuminate Financial.
IA Capital Partners, Eberg Capital, and Nemo Ventures were among the investors, as were entrepreneurs and operator angel investors from both decentralized and traditional finance.
The funding will be used to expand the company’s workforce to 15 individuals by the end of the year and to enhance the platform in preparation for the launch of an early-access program.
Cloudwall Capital, which was founded in 2021, is developing Serenity, a new product that will give institutional investors risk management analytics to help them construct portfolios and manage the risks associated with digital assets.
To evaluate and participate in the digital asset market, the platform allows investors to combine their portfolios and access historical data from a variety of sources, including centralized exchanges and blockchains.
Investors will be able to run simulations and stress tests on their portfolios using its own statistical and machine learning techniques to assess how they will perform.
“In the course of our market research, we identified the lack of institutional-grade risk and analytics products for investors in cryptocurrencies as a serious issue – with traditional finance models insufficient at best and misleading most of the time for this growing market,” Cloudwall Capital co-founder Ilya Kulyatin.
