Andalusia Labs, a provider of digital asset risk management solutions, has raised $48 million in a Series A share offering led by Lightspeed Venture Partners. This is reported in the Andalusia press release.
At the same time, the market capitalization of Andalusia Labs is estimated at more than $1 billion.
Mubadala Capital, a subsidiary of Abu Dhabi's Sovereign Wealth Fund, and several investors, including Coinbase, Pantera Capital and Naval Ravikant, participated in the offering.
Andalusia Labs plans to use the funds raised to develop new products, enter into partnerships with institutions and expand its presence in the markets.
Andalusia Labs has decided to move its headquarters to the Abu Dhabi Global Markets financial center in order to take advantage of the region's regulatory and capital advantages for the blockchain industry.
Andalusia Labs offers three main technological solutions for digital assets - the Karak 2nd level blockchain, the Subsea risk management market and the Watchtower institutional platform, which aim to provide cryptocurrency support to institutions, developers and consumers in their respective segments. Andalusia Labs aims to create industry-wide security standards, foster institutional partnerships, and integrate blockchain technology into global financial services.
Andalusia Labs (formerly RiskHarbor) is one of the most efficient companies in the blockchain segment. The company uses its experience in creating scalable software systems, artificial intelligence, fintech technologies and blockchain products to develop software for large companies (Coinbase, Google, AWS, Twitter, Social Capital, Goldman Sachs).
