Robo advisor Delphia has closed its $60 million Series A funding round led by venture capital firm Multicoin Capital.

We are excited to announce that we have closed the $60 Million Series A Tour led by him. @multicoincapwith the participation @RibbitKapital, @FTX_Official & others. These funds will allow us to share our algorithmic breakthroughs with anyone willing to contribute data or $1/6. pic.twitter.com/ObWa2img1e

– delphia (@delphia) 8 June 2022

Tour participants include Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, and others. According to the project, the total investment amount reached 80 million dollars.

The team will use the funds raised to launch an ERC-20 standard token to increase staff and incentivize users. Second, it will be able to provide personal data to the robo-advisor in exchange for an asset.

“Investing platform Delphia plans to use consumer spending data, employment patterns, and social media-derived public opinion data for algorithmic models that were previously only available to top-performing hedge funds,” the press release said.

According to the project, tokens will be credited when the user connects apps on their phone that are “suitable to use in Delphia”. Data collected may include Amazon purchase history, credit card transactions, LinkedIn, Venmo, and other information.

“We’re going to use a lot of data to make predictions about where companies are going,” Delphia CEO Andrew Pick told CoinDesk.

Recall that Stacked, an automated investment service in digital currencies, raised $35 million at the end of 2021 led by Alameda Research and Mirana Ventures.