AI-Powered Crypto Start-up Sumo Signals Closes 5.5 Million Funding Round Led by OnDeck Venture
UK and Japan-based crypto startup Sumo Signals Ltd. announced that it has raised US$5.5 Million in its recent round of funding led by Hong Kong based prominent investor OnDeck Venture. The successful funding round is a clear indication of the company’s strong growth prospects powered by its pioneering AI-based technology.
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Speaking on the occasion, 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 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.”
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Sumo Signals provides unique 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 provide thousands of real arbitrage signals to choose from every day. These robots use artificial intelligence to sift through hundreds of cryptocurrencies in search of patterns that signify buy or sell signals. These AI robots have been designed to increase profitable trading opportunities and decrease average losses. The AI Robots open positions with sophisticated AI abilities and filter them using AI Predictions and other in-house metrics.
According to the company’s CTO, Naohiko Yamamoto, Sumo Signals is the first cryptocurrency trading platform that uses a sophisticated AI algorithm to find the most promising Signals even in a bear market. Sumo’s AI robots can run non-stop, generating trade signals based on the strategies programmed into them. It can consider multiple variables for several different currency pairs at the same time. The speed at which they make decisions and act on them gives them an edge over manual trading.
Sumo’s AI algorithm can take full control of the entire trading process, right from analyzing the market to exiting a position thus ensuring that traders will profit from the currency price actions round the clock. The company is committed to enhancing and upgrading its ground-breaking platform based on market trends and user feedback.
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