Nansen AI raised $1.2 million in a round led by Mechanism Capital and Skyfall Ventures.

Nansen AI, an Oslo, Norway-based blockchain-based analytics platform developer, announced that it raised $1.2 million.

The money was raised from investors led by Mechanism Capital and Skyfall Ventures, with participation from Robot Ventures, Volt Capital, and Fabric Ventures. Individual investors — including Ethereum developer Eric Conner, Kevin Hu of Dragonfly Capital, FTX's Anthony Yoon, and Deribit's Sergei Chan — also participated in the round.

Nansen AI, founded in 2020 by Alexander Svanevik (CEO) , Lars Bakke Krogvig, and Evgeny Medvedev, developed a platform that combines on-chain data with a massive and constantly growing database containing millions of wallet labels.
Customers pay a subscription to access this data via user-friendly dashboards, direct SQL queries, or APIs.

Nansen currently has more than 1,000 trial customers and more than 200 subscribers. It also produces bespoke research and analysis for some customers, which has been its additional source of revenue.