Quick take: 
<ul> 
 <li>Anboto Labs has raised $3 million in a round backed by Kronos Ventures, Mechanism Capital, Cherry Crypto and others.</li> 
 <li>The company also announced the launch of its institutional-grade non-custodial trading platform.</li> 
 <li>The Web3 startup will use the funds to expand trading features on the platform.</li> 
</ul> 
Anboto Labs has completed a $3 million funding round from Kronos Ventures, Cherry Crypto, Mechanism Capital, XBTO, and Matrixport. The Hong Kong-based Web3 startup also announced the launch of its non-custodial trading platform. 
According to the company’s website, Anboto offers a suite of algorithmic trading tools including Time-Weighted Average Price (TWAP), Volume-Weighted Average Price (VWAP) and Iceberg, which traders can use to execute a variety of instruments on different platforms, including crypto exchanges and blockchain marketplaces. 
This fundraising comes following a $1.9 million last year, which valued the company at $35 million. Anboto has been in beta testing for the past 18 months, during which it registered a transaction volume of $4 billion across 20 exchanges and blockchain networks. 
Commenting on the announcement, Guillaume Forcade, co-founder of Anboto, <a href="https://www.theblock.co/post/259345/anboto-labs-funding" target="_blank" rel="noreferrer noopener">told The Block</a>: “We’ve been revenue-generating since day one and today we are excited to introduce our execution platform to a broader audience of experienced traders. With the public launch of our platform, Anboto can now scale to support thousands of traders simultaneously.” 
Anboto plans to use the capital to beef up its platform with new trading features including non-custodial prime services as part of its strategy for “democratising access to institutional-grade execution tools for all crypto traders.” 
The company has embraced multi-factor authentication enabling users to sign up and verify their accounts without the Your Customer (KYC) process.&nbsp; 
Other digital asset investment companies backing Anboto include Sino Global Capital, Paramount Capital, Mgnr, Manifold, AscendEX, Matrixport, Gate Ventures and Antalpha. 
This fundraising comes at a time when Web3 finding is declining amid the crypto winter. The funding for web3 startups fell for the seventh consecutive quarter in Q3 2023, according to <a href="https://techcrunch.com/2023/10/02/web3-venture-funding-q3/" target="_blank" rel="noreferrer noopener">TechCrunch</a>. 
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The post <a rel="nofollow" href="https://www.nftgators.com/kronos-ventures-invests-in-3m-funding-round-for-anboto-labs/">Kronos Ventures Invests in $3M Funding Round for Anboto Labs</a> appeared first on <a rel="nofollow" href="https://www.nftgators.com">NFTgators </a>.

Kronos Ventures Invests in $3M Funding Round for Anboto Labs

NFTgators

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