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Andalusia Labs secures $48m funding

Andalusia Labs announced the establishment of its global headquarters in Abu Dhabi’s Financial Center. Image Courtesy: Andalusia Labs.
  • Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital
  • Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry

Abu Dhabi, United Arab Emirates: Andalusia Labs, formerly known as RiskHarbor,  a company dealing in risk management infrastructure for digital assets, has successfully raised $48 million in Series A funding round, positioning the company’s equity valuation north of $1 billion.

Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital, and existing investors Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group. Other existing investors include industry giant Coinbase, Proof Group, Nima Capital, Naval Ravikant, and founders, general partners, and executives from leading global organizations.

In conjunction with the round, Andalusia Labs announced the establishment of its global headquarters at Abu Dhabi’s Financial Center.

“Andalusia Labs is addressing one of the most significant challenges in the blockchain industry today,” said Ravi Mhatre, Partner at Lightspeed Venture Partners. “Financial institutions and blockchain companies grapple with the absence of robust risk management technologies to safeguard their assets. Lightspeed is excited to partner with them as they aim to bring their infrastructure to every institution, developer, and consumer in the industry.”

Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry including Karak, a revolutionary risk management infrastructure for digital assets; Subsea, a pioneering risk management marketplace for digital assets; and Watchtower, an institutional security platform for digital assets.

Andalusia Labs intends to utilize 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.

“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,” said Raouf Ben-Har and Drew Patel, founders of Andalusia Labs. “This funding will enable us to continue developing the best-in-class products for our users that will unlock the potential of digital assets and drive innovation in global financial services around the globe.”