The Nomics crypto project has reportedly completed a Series A funding with the investments amounting to $3 million. The list of the company that decided to support the project includes Coinbase Ventures, CoVenture Crypto, Digital Currency Group, CityBlock Capital, King Capital, PolyMath, TokenSoft as well as BitGo's co-founder Ben Davenport.
Clay Collins, CEO and co-founder Nomics, stated that collection of cryptocurrency data is a complicated engineering task. The received investments are said to be spent on the expansion of the company's R&D department to boost its performance and increase data ingestion. The company, as he stated, will become able to maintain an index of 95% out of all available transactions.
After indexation, the users will receive dozens of new pages. The access to the information will be provided via Nomics API – the solution covering up-to-date and previous financial data on different assets.
"I think space is really wising up. After the irrationality of 2017, people are demanding clean, hard guidelines," as told Clay Collins, Nomics' CEO to the media.
As the project team stated, their solution is aimed at providing investors and hedge funds with the collected crypto data that can be used while determining the trading scheme as well as monitor market movements.