Other participants in the funding round include Franklin Templeton, Rovida Kruptos Assets and Galaxy Digital. The firm said that GoldenTree Asset Management executives, as well as existing investor HWVP, also led the round.
Amberdata said it would use the money to double its research and development staff and grow its market presence.
“Data and insights will continue to play a pivotal role in creating transparency and strengthening risk management frameworks for digital assets. We are excited to be leading their Series A and supporting the team on their next phase of growth,” Siris Singh, the Americas head of markets strategic investments for Citi, said in a statement.
Amberdata’s raise represents the latest example of data companies in the crypto space attracting venture funding, and Citi’s lead involvement again highlights the banking world’s interest in such companies. In May, Goldman Sachs led a $15 million Series B round for Coin Metrics.
In August, Dune Analytics raised an $8 million funding round while Kaiko, a market data provider for the crypto market, raised $24 million in June.