2019 has been an incredible year for Nyctale, and we suspect 2020 to be even more challenging. This blog post sums up our major accomplishments of 2019, and what to expect from us in 2020.
2019: A pivotal year to assert our strategic positioning
2019 began with our integration at Station F, one of the biggest incubator in the world. As expected, it has opened us to a new pool of business opportunities, be it for investors, strategic partnerships, or customers. We notably have met there our first advisor and Business Angel Kimiko Imai, who mainly intervenes on strategic, commercial and business development areas, with 18-year experience in IT and high-tech companies, developing international sales and businesses across complex global ecosystems.
Following this enthusiastic dynamic, we have been awarded in early July a Jury’s Grand Prize at i-Lab 2019, a major innovation competition supported by the French Ministry of Research and the French Investment Bank (BPI France). This made us eligible for a significant public funding (> 500 k€) in grant and convertible notes from BPI France.
During the summer, we have released our first paying product demonstrator running on iExec and Funfair networks. And in October, we finally have hired our first collaborator Jeremy Guillon, Ph.D. from Sorbonne University having work with INRIA team as a leading members of the development team of an open-source software on complex network science applied to brain imaging. Its arrival on our development team has been a great boost to prepare a key commercial release in 2020.
2020: A decisive year to confirm our ambition to become an actor of reference at the crossroads of the blockchain analytics field and the financial sector
2020 will begin with the closing of our pre-seed funding round with the participation of Business Angels and early-stage VCs in the FinTech and blockchain area. We will communicate later on it, once the deal closed.
In Q1 2020, we will release our product ALUCO, a token dashboard to monitor investment and usage behaviors on every ERC20 tokens at first. This first commercial release will also mark the beginning of a new development phase toward our second product to build a complete financial software suite for public and private institutions to control the risks associated with blockchain technologies.
For this purpose, we are requesting funding from the European Union as part of their EIC Accelerator Program, and we will do our best effort to join the European Blockchain Pre-Commercial Procurement recently published by the European Commission.
To keep pace, we plan to hire new collaborators to grow our team from 3 to 10 by the end of the year, which will invite us to prepare the ground for our future Seed / Serie A funding round.
Reminder about our activity
Nyctale is an innovative start-up in the fields of data science and blockchain technologies. We are addressing the lack of monitoring tools on public and private blockchain networks. We develop advanced analytics tools to analyse usages, measure value, and control money flows on these new transactional systems. Our current Software-as-a-Service platform targets blockchain application providers (start-ups and enterprises) as well as professional investors.
Currently, enterprises involved within the blockchain industry have almost no external solutions to fill their need for business analytics. Although they are still focus on generating adoption by reaching critical size of users, their need for analytics will become stronger with time. Thanks to our tools, they have access to:
- In-depth analysis of the overall blockchain transactions per market sectors, including monitoring tools for customers’ behaviors and strategic information on competitors’ product adoption;
- An evaluation of the impact and efficiency of their project development through the evolution of customers’ behaviors caused by everyday business activities (marketing campaigns, products release, secondary markets activity, etc.).
These services are not restricted to application providers. They should be used by financial institutions and regulatory authorities. Nyctale aims at supporting the healthy development of decentralized applications. It requires to better monitor blockchain transactional networks to manage all associated financial risks. By capitalizing on the support provided to enterprises in their efforts to adopt blockchain technologies, our tools will provide to financial security services new innovative type of monitoring and risk management solutions to manage structural financial risks.