Andalusia Labs (formerly known as RiskHarbor), an Abu Dhabi, UAE-based company which specializes in risk management infrastructure for digital assets, raised $48M in Series A funding; at $1 Billion valuation.
The round was led by Lightspeed Venture Partners, with participation from Mubadala Capital, and existing investors Pantera Capital, Framework Ventures, Bain Capital Ventures, Digital Currency Group, Coinbase, Proof Group, Nima Capital, Naval Ravikant, and founders, general partners, and executives from global organizations.
The company intends to use the funds to accelerate product development, enhance institutional partnerships, and continue global expansion. The team is rapidly expanding, and hiring across finance, business development, AI, cryptography, distributed systems, and security engineering, among many other roles.
Led by Raouf Ben-Har and Drew Patel, Andalusia Labs is a collection of technology solutions addressing the security challenges prevalent in the blockchain industry including Karak, a risk management infrastructure for digital assets; Subsea, a risk management marketplace for digital assets; and Watchtower, an institutional security platform for digital assets.
In details:
- Karak is a Layer 2 blockchain introducing a novel risk management infrastructure for blockchain, Web3, and global financial services, prioritizing financial security while upholding the highest standards of security, scalability, and affordability. Amalgamating risk management, restaking, and AI infrastructure, Karak represents a new approach to securing a wide array of financial products and services for blockchain, Web3, and global financial services.
- Subsea, natively built on the Karak blockchain, is the world’s leading risk management marketplace for digital assets that pioneered a completely automated, transparent, and impartial invariant detection mechanism to secure users against digital asset risks, hacks, and attacks. Subsea has secured over $1 billion in digital assets and built 100+ integrations with different blockchains and financial applications.
- Watchtower is an institutional security platform for digital assets. It is creating realistic market simulations in real time with real data for the first time. Currently, Watchtower is in private beta. The combination of Subsea and Watchtower built on the Karak blockchain will provide the foundational risk management and security required to build a safe environment for the industry.
FinSMEs
14/12/2023