Andalusia Labs secures $48mln in Series A funding at $1bln valuation

Andalusia Labs, formerly known as RiskHarbor, the global leader in risk management infrastructure for digital assets, has successfully raised $48 million in Series A funding round, positioning the company’s equity valuation north of $1 billion.

Prominent Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, a $280 billion global sovereign investor headquartered in Abu Dhabi, and existing investors Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group. Other existing investors include industry giant Coinbase, Proof Group, Nima Capital, Naval Ravikant, and founders, general partners, and executives from leading global organisations.

In conjunction with the round, Andalusia Labs announced the establishment of its global headquarters at the Abu Dhabi Global Market. For Andalusia Labs, this move underscores the company’s commitment to expanding its global footprint and highlights Abu Dhabi as a leading financial hub for digital assets.

“Andalusia Labs is addressing one of the most significant challenges in the blockchain industry today,” said Ravi Mhatre, Partner at Lightspeed Venture Partners. “Financial institutions and blockchain companies grapple with the absence of robust risk management technologies to safeguard their assets. Lightspeed is excited to partner with them as they aim to bring their infrastructure to every institution, developer, and consumer in the industry.”

Source: Zawya