Truflation: Independent Inflation Data Provider Closes $6 Million In Funding

By Annie Baker ● Feb 9, 2024

Independent inflation data provider Truflation announced it completed its latest investment round, raising $6 million from distinguished investors, including Laser Digital and Red Beard Ventures. The list of VCs taking part in this funding round also includes Modular Capital and Four Seasons Ventures (4SV), along with existing investors Chainlink, Fundamental Labs, C2squared, Cogitent Ventures, and the Israeli Blockchain Association. This funding round saw the Base Ecosystem Fund, managed by Coinbase Ventures, select Truflation among its first cohort from a shortlist of more than 800 applications.

Truflation’s funding round attracted many of the leading venture capital investors and communities focusing on promising early-stage blockchain projects. And with hundreds of blockchain and tech funding rounds worth billions of dollars between them, they represent a robust support network to propel Truflation’s continued expansion.

Truflation is committed in being the foremost provider of clear, immediate economic insights, linked to their flagship US and UK inflation indexes. And the partners joining us at this early stage of our journey will be instrumental in helping us disrupt traditional data infrastructure and build an alternative investment option designed to preserve purchasing power over the long term.

Truflation is a pioneer in the economic data field, offering a comprehensive selection of independent indexes and data feeds. And compiled using millions of data points aggregated in real-time, Truflation provides a pinpoint accurate alternative to the slower, less comprehensive data collection methods employed by official data agencies.

Truflation is also the first DRPp (Definitive Reference Point) protocol. This protocol tracks real-time data across networks, markets, and feeds. Tracking over 18 million items with three price feeds per item, Truflation’s censorship-resistant and accessible data indices provide the necessary data infrastructure to bring about systemic advancements in the economy, empowering developers to build open limitless markets. From speculating on prices of orange juice and uranium, to enabling BTC-denominated oil, gas, and corn prices, Truflation offers the key to unlocking a diverse array of financial markets and instruments in the Web3 world.

KEY QUOTES:

“We’re honored to have been selected for investment by some of the leading crypto-native VC funds in the space, including Laser Digital, Modular Capital, 4SV and Red Beard Ventures alongside strategic investors Abra and G20.”

– Truflation CEO Stefan Rust

“We’re excited to support Truflation in its mission to provide independent, real-time data streams to power the growth of real-world asset tokenization. Reliable and verifiable data is a key component in building a strong and secure blockchain ecosystem.”

– Jez Mohideen, CEO of Laser Digital, the pioneering digital asset subsidiary of Nomura

“Our investment in Truflation aligns with our focus on scalable, data-driven platforms, as it not only innovates in inflation measurement on the blockchain but also serves as a foundational data layer for a burgeoning ecosystem of applications, reinforcing our commitment to transformative technologies with wide-reaching impact.”

– Drew Austin, Founding Partner of Red Beard Ventures