Robinhood (HOOD) has invested in Talos, an institutional buying and selling expertise supplier for digital belongings, in an expanded Sequence B funding spherical that values the New York-based firm at roughly $1.5 billion.
Talos initially raised $105 million in a Sequence B funding spherical in Might 2022, valuing the corporate at $1.25 billion. The brand new extension brings the corporate’s complete Sequence B funding to $150 million, the corporate mentioned in a press launch Thursday.
“We prolonged our Sequence B spherical in response to the curiosity of strategic companions who acknowledge Talos’ position in offering core organizational infrastructure for digital belongings. These companions needed to be extra intently aligned with our progress as conventional asset lessons more and more transition to digital rails,” Talos CEO and co-founder Anton Katz mentioned in an emailed remark.
New strategic buyers Robinhood Markets, Sony Innovation Fund, IMC, QCP, and Cartage participated within the extension spherical, as did earlier backers a16z Crypto, BNY, and Constancy Investments.
Johann Kerbrat, SVP and GM of Crypto at Robinhood, mentioned in a launch:
Robinhood has been increasing its attain in cryptocurrency and blockchain infrastructure as a part of a broader growth technique.
The corporate is growing its personal blockchain community constructed on Arbitrum and is rolling out tokenized inventory buying and selling and different crypto merchandise in Europe alongside new staking and perpetual futures merchandise, signaling a transfer in the direction of crypto-native finance. Now we have additionally seen sturdy progress in areas similar to prediction markets, with current will increase in quantity and product engagement reported inside these strategic investments.
Talos is a cryptocurrency buying and selling expertise firm that builds institutional-grade infrastructure that powers your complete digital asset buying and selling lifecycle for skilled buyers, brokers, and banks. Its platform swimming pools liquidity from exchanges, over-the-counter (OTC) desks, and prime brokers and supplies monetary establishments with instruments for commerce execution, threat administration, and post-trade settlement by way of a single interface or API.
It has a whole bunch of consumers in about 35 nations, with conventional finance firms accounting for 60% to 70% of latest prospects prior to now 12 months. Asset managers utilizing Talos’ platform collectively signify about $21 trillion in belongings beneath administration, CEO Anton Katz instructed funding financial institution Jefferies on a name with purchasers in November.
The corporate’s 2022 Sequence B was led by Normal Atlantic, with participation from companies similar to BNY, Citi (C), Wells Fargo Strategic Capital, and DRW Enterprise Capital, in addition to crypto-focused buyers similar to SCB 10x and LeadBlock Companions. Current backers together with Andreessen Horowitz, PayPal Ventures, Constancy Investments, and Fort Island Ventures additionally participated within the spherical.
Talos has been on a notable acquisition spree, most not too long ago buying Coin Metrics for greater than $100 million, introducing on-chain analytics, market knowledge, and benchmarking indexes within the firm’s largest-ever deal. Previous to that, we acquired D3X Techniques, Cloudwall, and Skolem as a part of a broader growth by way of M&A.
learn extra: Tether is alleged to have invested as much as $50 million in Ledn, a cryptocurrency lender valued at $500 million.
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