Tokyo, Japan, July 27. 28, 2022 (GLOBE NEWSWIRE) — UK and Japan-based crypto startup Sumo Signals Ltd. announced that it raised US$5.5 million in its recent funding round led by prominent Hong Kong-based investor OnDeck Venture. The successful funding round is a clear indication of the company’s strong growth prospects, fueled by its pioneering AI-based technology.
Speaking on the occasion, Andrew Smith, CEO and Co-Founder of Sumo Signals, said: “Crypto trading is gaining momentum with more and more users and traders jumping on the bandwagon. Our vision is to create a robust product that allows crypto traders to log into our dashboard, select trading strategies based on our proprietary AI-powered algorithms, and maximize profit while minimizing risk. These funds will allow us to fuel the development of new products and hire talent. »
Samson Lee said, “The crypto industry is attracting massive interest from investors and traders around the world. This has led to huge innovations 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 that one of our portfolio companies is leading this change with its innovative offering. We are confident that this investment will inspire the Sumo Signals team to innovate more and bring more such ideas to market.
Sumo Signals provides unique AI-powered arbitrage trading indicators that help crypto traders execute profitable trades. The product was developed by a team of Japanese engineers. Sumo’s AI robots provide thousands of real arbitrage signals to choose from every day. These bots use artificial intelligence to sift through hundreds of cryptocurrencies looking for patterns that signify buy or sell signals. These AI robots have been designed to increase profitable trading opportunities and reduce average losses. AI robots open positions with sophisticated AI capabilities and screen them using AI predictions and other internal 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 trading signals based on the strategies programmed into them. It can take into account several 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, from analyzing the market to exiting a position, ensuring traders will profit from price action currencies 24 hours a day. The company is committed to improving and upgrading its revolutionary platform based on market trends and user feedback.
About Sumo Signals Ltd.
sumo signals is a UK registered and regulated company. The company provides AI Powered Arbitrage Trading Indicators. Sumo Signals harnesses next-generation financial technology to deliver innovative solutions to the crypto world.
For more information, please email or visit https://sumosignals.com/
About OnDeck Venture
OnDeck Venture is a leading investment firm that backs promising and innovative startups around the world. The company brings deep industry expertise and dedicated resources to transform and build great companies of enduring value in partnership with management. OnDeck Venture is headquartered in Hong Kong.