SoSoValue, an company doing AI-driven investment research, has successfully secured $15 million in a Series A funding round. This milestone follows remarkable growth, with the platform now boasting over eight million registered users.
The influx of investment capital highlights strong confidence in SoSoValue's continued upward trajectory, particularly as the cryptocurrency market nears a $4 trillion valuation.
The funding round, concluded in December, was spearheaded by existing shareholders HSG and SmallSpark, alongside new contributors Mirana Ventures and SafePal. This effort elevates SoSoValue’s valuation to approximately $200 million. Combined with a $4.15 million seed investment in mid-2024, total funding now approaches $20 million. These funds are chiefly allocated to fostering the SoSoValue Indices (SSI) Protocol, an innovative spot crypto index aimed at enhancing investment efficiency.
Recently, SoSoValue launched four SSI tokens—MAG7.ssi, MEME.ssi, DEFI.ssi, and USSI—on the Base chain for beta testing. Within a fortnight, these tokens saw over 10,000 unique wallet addresses in circulation. The SSI Protocol simplifies crypto investment by encapsulating diversified portfolios into smart contract-driven tokens. These assets, safeguarded by licensed custodians, represent the underlying values they track and rebalance automatically each month, with a nominal tech service fee applied daily.
Jivvva Kwan, SoSoValue's co-founder, aligns with the philosophy of renowned investor Charlie Munger, advocating for index investing as a failsafe strategy for ordinary investors.
With the introduction of SSI, SoSoValue reinforces its mission to democratize access to crypto investment tools. The protocol is a natural extension of the platform's offerings, aiming for sustainable, broad-based participation in cryptocurrencies.
Co-founder Jessie Lo addresses the historical difficulty in obtaining reliable data, reaffirming the company's commitment to offering valuable insights and products. Funds raised will support expanding operations in marketing, engineering, and business development while preparing upcoming product launches.