Japan-based crypto startup, Sumo Signals secured 5.5M Funding Round

Sumo Signals, a UK and Japan-based crypto startup, has now secured $5.5 million in funding.

Sumo Signals is founded by Andrew Smith and Naohiko Yamamoto. It leverages financial technology to offer innovative solutions to the crypto world. The company offers AI-powered arbitrage trading indicators that help crypto traders execute profitable trades. The product has been developed by a team of Japanese engineers. Sumo’s AI robots offer lots of arbitrage signals to choose from day to day basis.

Andrew Smith, CEO, and Co-Founder of Sumo Signals, said, "Crypto trading is gaining momentum with more users and traders jumping on the bandwagon. Our vision is to build a robust product that enables crypto traders to log in to our dashboard, select trading strategies based on our proprietary AI-powered algorithms, and maximize their profit while minimizing the risks at the same time. These funds will allow us to fuel further product development and hire talent."

Samson Lee, the partner at OnDeck Venture, said, "Crypto industry is witnessing massive interest from investors and traders across the world. This has led to tremendous innovation in terms of technology and applications that are being launched in this space, especially with the integration of AI-based technology. We are happy to see one of our portfolio companies is leading this change with its innovative offering. We are confident that this investment will drive the Sumo Signals team to innovate further and bring in more such ideas in the market."

The round was backed by the OnDeck Venture.

The crypto startup, as of now, has plans to use the new funds to accelerate further product development and hire new talent.