Skew, a crypto-data analytics firm based in London, has raised $2 million in its seed round and launched its data analytics platform, skewAnalytics, concurrently. The seed funding round was led by FirstMinute Capital and saw participation from major venture capital firms like Seedcamp, Kima Ventures, and QCP Capital.
Announcing our $2mln seed round led by @firstminutecap with participation from @seedcamp, @kimaventures and @kleinerperkins
We are launching our data analytics platform skewAnalytics dedicated to the fast growing crypto derivatives markets.
➡️https://t.co/YebBcK6MBH pic.twitter.com/ynAs4i0wr0
— skew (@skew_markets) September 25, 2019
The flagship derivative data platform claims to bring in real-time data from the crypto-derivative market, with the help of more than 100-charts on crypto-derivative futures as well as option products.
Emmanuel Goh, Skew CEO, along with Co-founder Tim Noat, had previously worked for JP Morgan Chase and Citi as traders for flow derivatives and exotic options, respectively, before starting their own analytical firm focused on the crypto-derivatives market.
Goh commented on the occasion of the seed fundraising, describing the aim and motive behind starting the analytical firm. Goh said,
“Where we want to focus is on corporates and institutions that need this data to run their business. We have had heard concerns from interested traders and firms, and they would be able to generate backtest strategies from this data.”
Skew began back in September 2018 and by the third quarter of 2019, it has registered a 30% month-over-month user growth. Goh believes that the uniqueness of its data set for the crypto-derivatives market would help it edge past its competitors, adding that Skew’s user base is well spread across the three main regions of Japan, the U.S. and U.K.
Goh added that Skew’s products are targeted towards “institutions and corporates who in traditional markets are used to receiving analysis on flows and positioning rather than technical analysis – an already well-covered area in crypto markets.”
Although the crypto-derivatives market is fragmented, making it quite difficult for accumulating real-time data, Skew plans to counter this issue with a number of licensing agreements with various crypto-exchanges.
