Furnace emerges from stealth with $3.5M seed for prediction markets
What's the deal? FurnaceDealroom has a profile for this one. Try Dealroom →, a New York-based prediction markets infrastructure startup, has raised $3.5 million in a seed round led by North Island VenturesDealroom has a profile for this one. Try Dealroom →. The company emerged from stealth mode to announce the funding.
What's the endgame? Furnace plans to build a "common reference layer" for traders. It said this will let trading firms and hedge funds more easily compare exposure across different exchanges.
The signal: The round sits in the 34th percentile for seed deal size, a modest sum that nonetheless points to growing investor appetite for prediction markets infrastructure. As trading activity spreads across competing venues, the tools that connect them are drawing fresh capital.
Read more: egr.global
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