Truflation raises $6M in latest investment round
FEBRUARY 7, 2024 – Truflation, the independent and unbiased provider of verifiable economic data, is excited to announce that it has closed a funding round, raising $6 million from leading crypto investors.
The list of VCs taking part in this funding round includes Laser Digital, Red Beard Ventures, Modular Capital, Abra, G20, and Four Seasons Ventures (4SV), alongside existing investors Chainlink, Fundamental Labs, C2squared, Cogitent Ventures, and the Israeli Blockchain Association. The investment round also saw the Base Ecosystem Fund, managed by Coinbase Ventures, select Truflation among its first cohort of investments from a shortlist of more than 800 applications.
Truflation’s funding round attracted some of the leading venture capital investors and communities who focus on promising early-stage projects in the blockchain space. With hundreds of blockchain and tech funding rounds worth billions of dollars between them, they represent a robust support network to propel Truflation’s continued expansion.
Commenting on the news, Stefan Rust, CEO of Truflation, says: “We’re honored to have been selected for investment by some of the leading crypto-native VC funds in the space, including Coinbase Ventures, Laser Digital, Red Beard Ventures, Modular Capital, 4SV alongside strategic investors Abra and G20.
Truflation is committed to being the foremost provider of clear, immediate economic insights, linked to our flagship US and UK inflation indexes. The partners joining us at this early stage of our journey will be instrumental in helping us disrupt traditional data infrastructure and build an alternative investment option designed to preserve purchasing power over the long term.”
Jez Mohideen, CEO of Laser Digital, the pioneering digital asset subsidiary of Nomura, comments: “We’re excited to support Truflation in its mission to provide independent, real-time data streams to power the growth of real-world asset tokenization. Reliable and verifiable data is a key component in building a strong and secure blockchain ecosystem.”
Drew Austin, Founding Partner of Red Beard Ventures, says: “Our investment in Truflation aligns with our focus on scalable, data-driven platforms, as it not only innovates in inflation measurement on the blockchain but also serves as a foundational data layer for a burgeoning ecosystem of applications, reinforcing our commitment to transformative technologies with wide-reaching impact.”
Truflation is a pioneer in the economic data field, providing a comprehensive selection of independent indexes and data feeds. Compiled using millions of data points aggregated in real-time, Truflation provides a pinpoint accurate alternative to the slower, less comprehensive data collection methods employed by official data agencies.