Tokyo, Japan, July 27, 2022 (GLOBE NEWSWIRE) — UK and Japan-based crypto startup Sumo Signals Ltd. announced that it has raised US$5.5 million in its recent funding round led by Hong Kong-based prominent investor OnDeck Venture. The successful funding round is a clear indication of the company’s strong growth prospects driven by its cutting-edge AI-based technology.
Speaking on the occasion, Andrew Smith, CEO and co-founder of Sumo Signals said: “Crypto trading is taking off with more users and traders jumping on the bandwagon. Our vision is to build a robust product that enables crypto traders to log into our dashboard, choose trading strategies based on our proprietary AI-powered algorithms, maximizing profits while minimizing risk. These funds will allow us to drive further product development and hire talent.”
Samson Lee said: “The crypto industry is witnessing massive interest from investors and traders worldwide. This has led to tremendous innovation in terms of technology and applications being launched in this space, especially with the integration of AI-based technology. We are delighted to to see one of our portfolio companies leading this change with its innovative offering. We are confident that this investment will drive the Sumo Signals team to further innovate and bring more such ideas to market.”
Sumo Signals offers unique AI-powered arbitrage trading indicators that help crypto traders execute profitable trades. The product has been developed by a team of Japanese engineers. Sumo’s AI bots 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 indicate buy or sell signals. These AI robots are designed to increase profitable trading opportunities and reduce average losses. AI Robots open positions with sophisticated AI capabilities and filter them using AI predictions and other internal calculations.
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 and generate trading signals based on the strategies programmed into them. It can evaluate several variables for several different currency pairs simultaneously. The speed with which they make decisions and trade gives them an advantage over manual trading.
Sumo’s AI algorithm can take full control of the entire trading process, right from analyzing the market to exiting a position, thus ensuring that traders will profit from the forex price action around the clock. The company is committed to improving and upgrading its cutting-edge platform based on market trends and user feedback.
About Sumo Signals Ltd.
Sumo Signals is a registered and regulated company in the UK. The company offers AI-Powered Arbitrage trading indicators. Sumo Signals leverages next generation financial technology to provide innovative solutions to the crypto world.
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About OnDeck Venture
OnDeck Venture is a leading investment company that supports promising and innovative startups worldwide. The company brings deep sector expertise and dedicated resources to transform and build great companies of lasting value in partnership with management. OnDeck Venture is headquartered in Hong Kong.
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