JERSEY CITY, N.J.--(BUSINESS WIRE)--BitOoda Holdings, LLC (“BitOoda”), a digital asset financial services platform that blends digital finance and applied science, today announced that it closed a $7 million seed round. BitOoda’s investor base was spurred by the achievement of several industry firsts in the past year, including the design and execution of the BitOoda Difficulty™ financial swap, the BitOoda Hash™ physical hashpower contract, and growing business lines in advisory services and next-generation financial solutions.
Notable investors include Dr. Gary Ross, former Head of Global Oil Analytics and Chief Energy Economist at S&P Global Platts, as well as founder of PIRA Energy; Calvin Schlenker, former Head of North American Natural Gas Trading at British Petroleum; and Roy Salame, former Managing Director, Head of Global Investment Opportunities Group, and Head of Commodities Sales and Structuring at J.P. Morgan.
“I am thrilled by the explosion of interest in BitOoda’s unique business model, and the recognition of our pioneering success in bringing new, sophisticated products to the digital asset market,” said BitOoda founder and CEO Tim Kelly. “At BitOoda, we are never happy doing things in the same way as our competitors, and we are focused on creating new market sectors where we can leverage our team’s unique expertise in capital markets, physics, and engineering. We are excited about the growth opportunities this seed round will enable, and plan to position ourselves to meet the soaring demand for our innovative solutions – both here in the U.S. and increasingly across Asia and Europe.”
BitOoda’s approach to digital asset derivatives and structured products blends traditional financial expertise with digital science in a suite of advisory, product engineering, brokerage, and data products combined in a single platform. The firm uses a strong foundation of compliance and an unrivaled regulatory stack to handle almost any digital asset.
About BitOoda: BitOoda is a digital asset platform based in New Jersey. Founded in 2017, BitOoda has its roots as an agency-only brokerage firm, and in the past year has made a name for itself developing and executing products and strategies using its first-of-its-kind platform that merges digital finance and applied science. BitOoda’s core expertise is providing institutions with high-touch capital markets advisory, product engineering, and brokerage solutions. The BitOoda team brings substantial leadership experience from conventional financial services and energy commodity advisory, trading, and execution, and the firm’s operations include an SEC/FINRA-registered Broker-Dealer and a CFTC/NFA-registered Introducing Broker. “Bitooda Hash” and “Bitooda Difficulty” are trademarks of BitOoda Holdings, LLC.