Kaiko Expands Series B to $110M With S&P Global Leading Round

Kaiko's Expanded Series B

Kaiko announced Monday that its Series B funding round has expanded to $110 million, with index and data company S&P Global leading the investment. Additional backers include BNP Paribas and Bpifrance, according to statements from the company. The crypto data provider did not disclose the previous Series B total, though the expansion suggests prior close was lower.

Strategic Positioning in Institutional Markets

Kaiko said the capital will fund development of data infrastructure for tokenized capital markets, a sector that spans digitized securities, derivatives, and on-chain derivatives platforms. S&P Global's participation marks a notable endorsement from an incumbent financial-data giant, one that competes with Bloomberg and Reuters in the legacy markets space. The investment suggests traditional financial infrastructure firms are moving beyond casual interest in crypto toward embedding digital-asset data into institutional workflows.

What This Signals

The involvement of S&P Global, BNP Paribas—a major European banking group—and Bpifrance, the French public development bank, underscores institutional conviction that on-chain data will become table stakes for regulated trading and settlement. Kaiko's core product is market data feeds and analytics for spot and derivatives trading on crypto exchanges and DEXs, historically used by traders and hedge funds. Institutional LPs backing the round suggest demand is shifting toward standardized, auditable data pipelines that satisfy compliance and risk management requirements.