Andalusia Labs, formerly RiskHarbor, has achieved a significant milestone by securing $48 million in a Series A funding round, catapulting the company’s equity valuation beyond the $1 billion.
Lightspeed Venture Partners, a prominent Silicon Valley venture capital company, spearheaded the round. It featured participation from Mubadala Capital, the asset management subsidiary of the globally renowned Mubadala Investment Company.
Distinguished Backing from Industry Titans and Global Investors:
Joining the funding round were existing investors such as Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group.
Noteworthy contributors included Coinbase, Proof Group, Nima Capital, Naval Ravikant, and key figures from leading global organizations. This diverse pool of backers attests to Andalusia Labs’ stature as a frontrunner in the field of risk management infrastructure for digital assets.
Simultaneously with the funding announcement, Andalusia Labs revealed the establishment of its global headquarters at the Abu Dhabi Global Market.
This strategic move underscores the company’s dedication to expanding its international presence and positions Abu Dhabi as a premier financial hub for digital assets.
Tackling Blockchain Industry Challenges:
Ravi Mhatre, Partner at Lightspeed Venture Partners, acknowledged Andalusia Labs’ pivotal role in addressing the blockchain industry’s key challenge— the lack of robust risk management technologies.
Mhatre expressed excitement about Lightspeed’s partnership with Andalusia Labs as they strive to provide their infrastructure to every institution, developer, and consumer in the industry.
Comprehensive Technology Solutions for Blockchain Security:
Andalusia Labs comprises cutting-edge technology solutions designed to counter prevalent security challenges in the blockchain industry.
These include Karak, a risk management infrastructure for digital assets; Subsea, an innovative risk management marketplace; and Watchtower, an institutional security platform.
The funds increased in this Series A round will fuel Andalusia Labs’ accelerated product development, foster enhanced institutional partnerships, and facilitate ongoing global expansion.
The company is actively expanding its team, seeking talent across various domains such as finance, business development, AI, cryptography, distributed systems, and security engineering.
Vision for the Future of Blockchain and Web3 Parametric Risk Management:
Founders Raouf Ben-Har and Drew Patel expressed their enthusiasm for the partnership with Lightspeed and Mubadala, emphasizing that blockchain is still in its early stages.
They anticipate that the funding will enable Andalusia Labs to continue developing premier products, unlocking the potential of digital assets, and driving innovation in global financial services.
Mubadala Capital’s Perspective on the Partnership:
Shaun Lee, Partner at Mubadala Capital, shared his excitement about building a partnership with Andalusia Labs.
Lee highlighted the significance of the company’s global headquarters in Abu Dhabi, anticipating that it will catalyze their scaling efforts and strategically position the company for unparalleled growth.
Mubadala Capital looks forward to supporting Andalusia Labs in shaping the future of blockchain and Web3 parametric risk management.
