Digital Assets Data — a crypto-focused fintech and data firm — has launched with a $6 million raise from industry backers such as Digital Currency Group, Morgan Creek Digital Assets and others.

The financing will enable the firm to build out a new institution-grade crypto data platform, according to a press release shared with Cointelegraph on April 30.

Digital Assets Data’s co-founder and CEO Mike Alfred previously served as co-founder and CEO of Brightscope, a financial information company that provided data and ranking services to major asset managers such as Black Rock, JPMorgan, Goldman Sachs and Fidelity, the press release states.

As well as Digital Currency Group and Morgan Creek Digital Assets, Digital Assets Data’s $6 million funding reportedly saw contributions from Distributed Global, Galaxy Digital, CMT Digital and Ritholtz Wealth Management CEO Joshua Brown, among others.

According to the press release, the company’s forthcoming crypto data platform will aim to provide institutional-grade information and insights into the digital assets space for a wide client base, including crypto hedge funds, family offices and asset management research firms.

The platform, which reportedly launched in March of this year, “helps clients compound their knowledge about the digital asset space and build any model, analytic, heuristic, or signal, as code,” the press release states.

In Mike Alfred’s statement, the CEO has outlined that the offering would offer on-chain, market and reference data to clients in a fully hosted cloud environment.

As previously reported, Digital Currency Group, headed by well-known cryptocurrency advocate Barry Silbert, has made almost 130 investments in the industry to date, including many high-profile firms such as Coinbase, Circle and Ripple, as the press release notes.

This February, Morgan Creek Digital secured $40 million in funding from investors that included two major United States pension funds for its new venture capital fund, the Morgan Creek Blockchain Opportunities Fund.