Truflation Raises $6M in Latest Investment Round | Truflation

Truflation Raises $6M in Latest Investment Round

Published 06 Feb, 2024

Today, independent inflation data provider Truflation completed its latest investment round, raising $6 million from distinguished investors, including Laser Digital and Red Beard Ventures.

“We’re honored to have been selected for investment by some of the leading crypto-native VC funds in the space, including Laser Digital, Modular Capital, 4SV and Red Beard Ventures alongside strategic investors Abra and G20,” Truflation CEO explained.

Calculate your Personal Inflation Rate here.

The list of VCs taking part in this funding round also includes Modular Capital, and Four Seasons Ventures (4SV), alongside existing investors Chainlink, Fundamental Labs, C2squared, Cogitent Ventures, and the Israeli Blockchain Association.

This investment round saw the Base Ecosystem Fund, managed by Coinbase Ventures, select Truflation among its first cohort from a shortlist of more than 800 applications.

Truflation’s funding round attracted some of the leading venture capital investors and communities who focus on promising early-stage projects in the blockchain space. With hundreds of blockchain and tech funding rounds worth billions of dollars between them, they represent a robust support network to propel Truflation’s continued expansion.

READ: Truflation: The World’s First Definitive Reference Point Protocol (DRPp)

Truflation is committed to being the foremost provider of clear, immediate economic insights, linked to our flagship US and UK inflation indexes. The partners joining us at this early stage of our journey will be instrumental in helping us disrupt traditional data infrastructure and build an alternative investment option designed to preserve purchasing power over the long term.

Jez Mohideen, CEO of Laser Digital, the pioneering digital asset subsidiary of Nomura, insisted, “We’re excited to support Truflation in its mission to provide independent, real-time data streams to power the growth of real-world asset tokenization. Reliable and verifiable data is a key component in building a strong and secure blockchain ecosystem.”

Drew Austin, Founding Partner of Red Beard Ventures, noted, "Our investment in Truflation aligns with our focus on scalable, data-driven platforms, as it not only innovates in inflation measurement on the blockchain but also serves as a foundational data layer for a burgeoning ecosystem of applications, reinforcing our commitment to transformative technologies with wide-reaching impact.”

READ: Everything You Need to Know About Truflation’s Index Methodology

Truflation is a pioneer in the economic data field, providing a comprehensive selection of independent indexes and data feeds. Compiled using millions of data points aggregated in real-time, Truflation provides a pinpoint accurate alternative to the slower, less comprehensive data collection methods employed by official data agencies.

Truflation is also the first DRPp (Definitive Reference Point) protocol. The protocol tracks real-time data across networks, markets, and feeds. Tracking over 18 million items with three price feeds per item, Truflation’s censorship-resistant and accessible data indices provide the necessary data infrastructure to bring about systemic advancements in the economy, empowering developers to build open limitless markets. From speculating on prices of orange juice and uranium, to enabling BTC-denominated oil, gas, and corn prices, Truflation provides the key to unlocking a diverse array of financial markets and instruments in the Web3 world.

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