GTS Venture Capital, a Los Angeles-based, early stage, fintech focused venture capital fund, and Galaxy Digital, a technology-driven financial services and investment management firm, have led a Series A investment round in Inca Digital, a cryptocurrency intelligence company.
Other investors in the round included Wedbush Capital, Menai Financial Group, Consolidated Trading, Richard Gorelick’s Aquamarine Holdings and early-stage Web3 investor Grant Gittlin.
Founded in 2009, Inca Digital provides data, analytics and expertise to many of the world’s leading exchanges, financial institutions, regulators and government agencies.
“Crypto compliance is more than just on-chain transaction patterns – it’s a holistic combination that includes market intelligence, on-chain data, and language processing,” said Will Nuelle, Investor at Galaxy Digital.
“Inca Digital differentiates itself by incorporating more information than competitors, and pairing its dataset with the analysis and consultative approach of its military-trained security experts,” he added.
Inca Digital is a veteran-owned small business striving to make digital assets accessible to traditional financial institutions and government through data.
The company’s clients include the Commodity Futures Trading Commission (CFTC), FTX, Fidelity, and national security and law enforcement agencies, including the U.S. Department of Defense and U.S. Special Operations Command.
Inca Digital’s recent growth is being fueled by an increasing need to better understand how digital assets and crypto markets function.
The company said in a statement that the funding will be used to hire additional software developers, security experts and analysts to further enhance its offering.
The funding round recognizes Inca’s unique data, highly flexible product delivery methods and willingness to collaborate with clients to build proprietary solutions for surveilling the markets, fighting crime, generating alpha and more.
“We’re excited to be working with investors that recognize the potential for our unique combination of market data, blockchain data and natural language data that is necessary to fully understand digital assets,” added Adam Zarazinski, Inca Digital’s CEO.
“This fundraise will help us meet our goal of developing industry standard intelligence that will enable crypto markets to flourish in the same way traditional markets have.”
According to Richard Gorelick, Co-founder and CEO of RGM Advisors and former head of market structure for the Chicago-based trading firm DRW Holdings, the safety and soundness of traditional financial markets rely upon high quality information about assets being traded, market participants and transactions.
“Adam and his team have demonstrated success and an unparalleled expertise in providing this kind of transparency around digital assets, and they are a great partner for financial firms serious about building a crypto-based business or looking to invest in these markets,” he said.
