Andalusia Labs Secures $48 Million in Series A Funding
Andalusia Labs, formerly RiskHarbor, has raised $48 million in Series A funding. The funding round was led by Lightspeed Venture Partners, valuing the company at over $1 billion. This significant milestone comes as Andalusia Labs continues to make waves in the digital asset risk infrastructure space.
The funding round saw contributions from Mubadala Capital, Pantera Capital, and Digital Currency Group. The company plans to utilize the funds to bolster product development and forge new institutional partnerships.
In conjunction with the funding announcement, Andalusia Labs proudly unveiled its global headquarters in Abu Dhabi. This strategic move positions the company at the forefront of the rapidly evolving digital asset landscape.
The Three Pillars of Andalusia Labs’ Solutions
Andalusia Labs specializes in three major digital asset technology solutions, each catering to specific needs within the industry:
1. Karak: Revolutionizing Risk Management
Karak, a Layer 2 blockchain, is a groundbreaking risk management infrastructure for blockchain, Web3, and global financial services. Prioritizing financial security while adhering to the highest standards of scalability and affordability, Karak represents a novel approach to securing financial products and services.
2. Subsea: A Pioneer in Risk Management
Subsea, built on the Karak blockchain, is the world’s leading risk management marketplace for digital assets. Boasting over $1 billion in secured assets and more than 100 integrations with diverse blockchains and financial applications, Subsea employs automated, transparent, and impartial mechanisms to shield users against digital asset risks.
3. Watchtower: Institutional Security at its Core
Watchtower, currently in private beta, is an institutional security platform for digital assets. Creating real-time market simulations with authentic data, Watchtower, in conjunction with Subsea, provides foundational risk management and security. This aspect is important for fostering a secure environment within the industry.
Vision for the Future
Andalusia Labs, driven by founders Raouf Ben-Har and Drew Patel, views risk management as the bedrock of financial stability in the dynamic digital asset space. The company is committed to continually enhancing its infrastructure and expanding its product offerings to address emerging risks and real-world applications.
In an ever-changing industry with constant security threats, Andalusia Labs is committed to providing advanced risk management solutions. The $48 million Series A funding marks a pivotal moment for the company as it strives to shape the future of digital asset risk infrastructure.
