Since its launch in early 2024, SoSoValue has rapidly emerged as a go-to platform for retail investors, providing actionable insights through advanced AI algorithms.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Popular AI-powered crypto financial research platform SoSoValue has recently raised $15 million in a Series A funding round. The funding round, led jointly by HSG and SmallSpark with backing from Mirana Ventures and SafePal, has increased the startup’s valuation to $200 million.
The newly raised capital will primarily fund the development of an investible spot index protocol called SoSoValue Indices (SSI). This protocol aims to simplify crypto investing by offering wrapped tokens representing diversified baskets of cryptocurrencies. According to the announcement, this solution will make crypto index investing more accessible and efficient.
Launched in beta on the Coinbase’ Base chain in December, the SSI Protocol introduced four SSI tokens: MAG7.ssi, MEME.ssi, DEFI.ssi, and USSI. These tokens represent portfolios of multiple assets and automatically rebalance every month, providing investors with a stress-free way to track the market.
Within two weeks of launch, over 10,000 unique wallet addresses held SSI tokens, as per the press release. The tokens use on-chain smart contracts to repackage multi-asset portfolios, and the underlying assets are secured by licensed custodians to ensure full transparency. Token holders need to pay a minimal tech service fee of 0.01% per day.
Looking ahead, SoSoValue plans to introduce an open-source tool for creating custom indices, enabling professional investors to design unique strategies and issue personalized tokens. “[The open-source index creation tool] will enable anyone to issue their own indices, embodying SoSoValue’s commitment to information and asset equality,” explained Jivvva Kwan, co-founder of SoSoValue.
Since its launch in early 2024, SoSoValue has rapidly emerged as a go-to platform for retail investors, providing actionable insights through advanced AI algorithms. With over eight million users registered in just one year, the platform has demonstrated the surging demand for intuitive tools in the crypto market.
Notably, SoSoValue is highly popular for its Bitcoin exchange-traded funds (ETFs) capital flows dashboard. Investors also use it to analyze fundraising trends and DEX pool data obtained through exchanges and chains. Additionally, the platform is the first to introduce tokenized spot indexes.
Beyond the SSI Protocol, the startup will also use funds from the latest funding round to expand its engineering, marketing, and business development teams. It aims to roll out additional products in the near future. Interestingly, SoSoValue previously secured $4.15 million in a seed funding round in June to enhance its data services and expand its global researchers’ community. SoSoValue’s planned expansion is likely to improve crypto research and investment standards.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.