Chronicle Raises $12M in Seed Funding Round to Expand Its Blockchain Data Network

Chronicle, a blockchain data provider focused on tokenized assets, announced on Tuesday that it has raised $12 million in a seed funding round.

Chronicle, a blockchain data provider focused on tokenized assets, announced on Tuesday that it has closed a $12 million seed funding.

The investment was led by Strobe Ventures, formerly known as BlockTower Capital. Other backers include Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital and Fenbushi Capital, alongside notable crypto angel investors such as Rune Christensen (Sky/MakerDAO founder), Andre Cronje (founder of Sonic and Yearn), Stani Kulechov (founder of Aave), Mark Phillips (co-founder of Steakhouse) and Sam MacPherson (co-founder of Phoenix Labs).

Chronicle is an oracle network that provides real-time data verification for tokenized financial products. It has processed more than $20 billion in total value secured (TVS) and is expanding its infrastructure to meet the surging demand.

Recently, Chronicle launched its “Verified Asset Oracle,” which will be used to vouch for the authenticity of issuers’ off-chain assets. Some of the institutions that use Chronicle's services include Centrifuge, Superstate and M^0.

“As banks and asset managers accelerate tokenization initiatives, Chronicle's trusted data infrastructure provides the reliability and compliance capability these institutions require,” said Thomas Klocanas, general partner at Strobe Ventures.

Indeed, institutions are increasingly turning to blockchain technology for tokenizing traditional financial instruments.

The demand for real-world asset (RWA) tokenization is expected to rise rapidly in the coming years. A multitrillion-dollar market for tokenized assets could be created by 2030, according to reports by McKinsey, Boston Consulting Group and others.

Chronicle is aiming to capitalize on that demand by providing a seamless integration of off-chain data with blockchain-based assets. It will ensure data security, auditability and cost-efficiency through a network of validators, including established financial data providers and crypto-native organizations like Sky, formerly MakerDAO.