Vinter raises $3.4 million in a round led by Octopus Ventures.

Vinter, a Stockholm, Sweden-based startup building an ETF marketplace for index-based crypto assets, announced completing a seed funding round closed at $3.4 million.

The money was raised from a range of investors led by London-based Octopus Ventures, and joined by the Ricketts family office, D4 Ventures, Pfeffer Capital and angels investors Gokul Rajaram, Marc Powers and David Chreng.

Vinter, founded in 2019 by Håkan Holmberg, CEO Jacob Lindberg and Marco Poblete and named as such as the company was founded during the crypto winter, is an index provider specialised in crypto assets, contributing to the emerging crypto ETF industry. The firm collects digital asset data from hundreds of sources, transforming proprietary strategies into investable products.

Vinter is riding the wave of growing institutional demand for crypto index products as the US Financial Supervisory Authority (SEC) opened up the market for crypto-ETFs (exchange-traded funds with crypto-assets) at the end of 2021. It previously raised roughly $1 million from accelerators (Sting and Techstars) and from the Finnish early stage investors from Gorilla Capital.