Merkle Science Raises Extension of Series A to Over $24 Million | Singaporebased Merkle Science 24m
Singapore-based Merkle Science, a leading provider of a predictive crypto risk and intelligence platform, has successfully raised over $24 million in an extension of its Series A funding.
Strategic Leadership: BECO Capital and K3 Ventures Lead the Way
In a significant funding round, BECO Capital and K3 Ventures took the lead, signaling strong support for Merkle Science’s predictive platform. The round also saw participation from key investors, including Republic Crypto, Summer Capital, 500 StartUps APAC and US, Aspen Digital, HashKey Capital, Coinhako, Kraken Ventures, Digital Currency Group (DCG), Kenetic, Uncorrelated Ventures, Fenbushi Capital, Lucy Gazmararian of Token Bay Capital, and Libertus Capital.
Empowering Global Growth and Innovation
Merkle Science plans to utilize the funds to fuel its global expansion, with a specific focus on penetrating the U.S. and European markets. Additionally, the company aims to bolster its research and development initiatives in emerging segments, such as analytics and forensics for Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), and cryptocurrency bridge protocols.
Pioneering Cryptocurrency Risk Management
Under the leadership of CEO Mriganka Pattnaik, Merkle Science stands out as a predictive cryptocurrency risk and intelligence platform. It serves a diverse clientele, including crypto companies, DeFi participants, financial institutions, and government agencies. The platform plays a pivotal role in detecting, investigating, and preventing illegal activities involving cryptocurrencies.
Cutting-Edge Solutions and Expert Team
Merkle Science’s solution suite is robust, screening over 3 million digital assets monthly and covering cryptocurrencies that represent 96% of the current $1.13 trillion crypto market cap. Leveraging machine learning, the platform excels in transaction monitoring and risk mitigation, focusing on Anti-Money Laundering (AML) compliance. The offering extends to a crypto forensics tool designed to track stolen funds, enabling thorough investigations, enhanced due diligence, entity reporting, and specialized training in crypto compliance and investigations.
A Team with Impressive Credentials
The core team at Merkle Science brings a wealth of experience from reputable institutions such as Paypal, Forter, Luno, Bank of America, the FBI, and the U.S. Department of Justice. This collective expertise positions Merkle Science as a trailblazer in the realm of cryptocurrency risk management and intelligence.
In conclusion, Merkle Science’s successful Series A extension not only bolsters its financial standing but propels the company into a phase of accelerated global expansion and innovation. With a focus on cutting-edge solutions and a team comprising industry veterans, Merkle Science is set to redefine the landscape of cryptocurrency risk and intelligence.