Haruko today announced it has closed a $10 million seed funding round, led by Portage Ventures and White Star Capital. The company’s platform powers large institutions, enabling them to interact with crypto markets both on centralized exchanges and decentralized protocols.
The company said it deploys institutional-grade services which integrate with client systems to put crypto investing right alongside more established asset classes.
“Over the last year, Haruko has come a long way,” said Shamyl Malik, CEO of Haruko. “We have successfully brought our platform to market, providing the technology layer that brings institutional capital to the digital-assets ecosystem. We are grateful to our team of incredibly hard-working and dedicated engineers and to our strategic partners for their immense support.”
While institutional capital is increasingly convinced of the opportunity, unfamiliar and unreliable technology remains a major barrier to entry, Haruko said. They are bridging this gap with a platform that provides both a sophisticated but easy-to-use API and a convenient dashboard enabling institutional investors to easily interact with crypto markets.
The company’s DeFi offering aims to provide crypto participants reliable data on pricing and tools to accurately value diverse portfolios across protocols. Clients have access to real-time and historical portfolio valuations, deep protocol level insights, activity monitoring and blockchain transaction automation. By combining these elements with security features, Haruko removes risk and common pain points for institutions entering the digital assets space.
“Many current solutions require a level of trust that institutions can’t afford to give,” Portage Ventures partner Stephanie Choo said. “We believe Haruko has successfully combined financial and technology expertise to engineer institutional-grade services that put crypto trading on par with other asset classes. We conducted extensive research for a portfolio management system alongside several crypto-hedge funds and found Haruko to be the best product for CeFi and DeFi valuations in one fully integrated platform.”
“Haruko’s founders are traders and technologists with deep expertise in traditional and crypto markets,” added Sep Alavi, general partner at White Star Capital. “Having dealt with exchanges and protocols deploying institutional capital, the team is acutely aware of the pain points and the opportunity to eliminate them through the Haruko platform. We look forward to supporting the team as they bring transparency and accuracy to the crypto capital markets and make it accessible to more investors.”