SEOUL, South Korea--(BUSINESS WIRE)--CrossAngle Pte. Ltd. (Co-CEO Junwoo Kim and Co-CEO Lihan Lee) announced that its Xangle, a crypto data and research platform based in South Korea, has closed a USD 17 million Series B investment round.
The Series B funding was led by KB Investment, Shinhan Capital, Premier Partners, and IMM. Among its investors, Shinhan Capital entered into a strategic partnership role with Xangle. The two companies are aiming to launch crypto-related services that are expected to be available on each company's platform.
CrossAngle was established in August 2018, and has developed its presence in the crypto industry as a leading provider of verified disclosures and information. Within a year and a half since its conception, CrossAngle raised approximately USD 4 million through Series A funding, with an additional USD 17 million Series B investment fund following suit.
In regards to the recent funding, Junwoo Kim, Co-CEO of Xangle, stated that crypto assets are being accepted as investments, not speculative assets with new areas like the Metaverse, NFTs, and Defi, continuing to solidify their utility. Also, he added that he hopes to continue promoting the positive aspects of crypto assets by providing reliable information and data to the market.
CrossAngle will continue to strengthen and develop new and existing areas of service to build a globally leading presence and pursue its efforts in cultivating global talent as well.