SG crypto firm Cloudwall bags $6.3m in seed round

Singapore-based Cloudwall, a digital asset risk management startup, has raised US$6.3 million in its seed round led by LocalGlobe and Illuminate Financial.

The Cloudwall team/ Photo credit: Cloudwall

Investors including IA Capital Partners, Eberg Capital, and Nemo Ventures, along with founders and operator angel investors from across decentralized and traditional finance also took part.

The company will use its funds to grow its team to 15 people by the end of the year and develop the platform to launch an early-access program.

Founded in 2021, Cloudwall Capital is building a new product, Serenity, which will provide institutional investors with the risk management insights to effectively build portfolios and manage risks inherent in digital assets.

The platform allows investors to pool in their portfolios and access historical data from a range of sources, including centralized exchanges and blockchains to analyze and invest in the digital asset market.

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Its proprietary statistical and machine learning algorithms will also enable investors to run simulations and stress tests on their portfolios to see how they will behave.

“In the course of our market research, we identified the lack of institutional-grade risk and analytics products for investors in cryptocurrencies as a serious issue – with traditional finance models insufficient at best and misleading most of the time for this growing market,” Cloudwall Capital co-founder Ilya Kulyatin.