Status

Watchtower

Partner

Quick take:&nbsp; 
<ul> 
 <li>Lightspeed Venture Partners was joined by Mubadala Capital, the asset management subsidiary of Mubadala Investment Company.</li> 
 <li>Existing investors Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group also participated in the round.</li> 
 <li>Andalusia Labs also launched its global headquarters in Abu Dhabi’s Financial Center, Abu Dhabi Global Markets.</li> 
</ul> 
Andalusia Labs, formerly RiskHarbor has announced a $48 million Series A round at a $1 billion valuation. The funding round was led by Lightspeed Venture Partners with participation from Mubadala Capital, the asset management subsidiary of Mubadala Investment Company (MIB). Mubadala is one of the two sovereign wealth funds in Abu Dhabi, managing assets worth $280 billion. 
Existing investors joining the round include Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group. Andalusia is also backed by Coinbase, Proof Group, Nima Capital, and Naval Ravikant. 
This fundraising was also accompanied by the launch of Andalusia Labs’ global headquarters in Abu Dhabi’s Financial Center, Abu Dhabi Global Markets, underscoring the company’s commitment to expand its global footprint. 
Commenting on his company’s leading role in the Series A round, Ravi Mhatre, Partner at Lightspeed Venture Partners highlighted Andalusia Labs’dedication to addressing challenges in the blockchain industry as one of the reasons for investing in digital assets risk management infrastructure provider. 
“Financial institutions and blockchain companies grapple with the absence of robust risk management technologies to safeguard their assets. Raouf, Drew, and their team are the first to fill this gap by delivering mission-critical risk management infrastructure that not only paves the way for wider institutional adoption by an order of magnitude but also empowers developers to create novel applications that are inherently safe and secure from day one,” said Mhatre. 
Andalusia Labs offers a technology suite used to tackle the blockchain industry’s risk and security challenges. Karak is a layer-2 offering novel risk management infrastructure for blockchain, Web3, and global financial services. On the other hand, Subsea is a risk management marketplace for digital assets — which Andalusia says has secured over $1 billion in digital assets and built 100+ integrations, while Watchtower provides institutional security for digital assets. 
Raouf Ben-Har and Drew Patel, founders of Andalusia Labs <a href="https://www.zawya.com/en/press-release/companies-news/andalusia-labs-secures-48mln-in-series-a-funding-at-1bln-valuation-khroyeeh" target="_blank" rel="noreferrer noopener">commented</a>: “Blockchain is still in the very early innings, and we’re thrilled to have partners like Lightspeed and Mubadala who share our commitment and vision for building the premier risk management infrastructure for the world.” 
Raouf and Drew plan to use the funds to continue developing the best-in-class products for Andalusia users as they look to unlock the potential of digital assets. 
Shaun Lee, partner at Mubadala Capital added: “We’re honoured to build our partnership with Raouf, Drew and the Andalusia Labs team. The opening of their global headquarters in Abu Dhabi will catalyze their global scaling efforts and strategically position the company for unparalleled growth.” 
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The post <a href="https://www.nftgators.com/andalusia-labs-reaches-unicorn-status-with-48m-series-a-led-by-lightspeed/">Andalusia Labs Reaches Unicorn Status with $48M Series A Led by Lightspeed</a> appeared first on <a href="https://www.nftgators.com">NFTgators </a>.

Andalusia Labs Reaches Unicorn Status with $48M Series A Led by Lightspeed

NFTgators

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