Robinhood (HOOD) has invested in Talos, an institutional buying and selling know-how 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 Could 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 stated in a press launch Thursday.
“We prolonged our Sequence B spherical in response to the curiosity of strategic companions who acknowledge Talos’ function in offering core organizational infrastructure for digital belongings. These companions wished to be extra intently aligned with our development as conventional asset courses more and more transition to digital rails,” Talos CEO and co-founder Anton Katz stated in an emailed remark.
New strategic traders 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, stated 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 direction of crypto-native finance. We now have additionally seen robust development in areas akin to prediction markets, with current will increase in quantity and product engagement reported inside these strategic investments.
Talos is a cryptocurrency buying and selling know-how firm that builds institutional-grade infrastructure that powers all the digital asset buying and selling lifecycle for skilled traders, brokers, and banks. Its platform swimming pools liquidity from exchanges, over-the-counter (OTC) desks, and prime brokers and offers monetary establishments with instruments for commerce execution, threat administration, and post-trade settlement via a single interface or API.
It has a whole lot of consumers in about 35 international locations, with conventional finance firms accounting for 60% to 70% of latest clients prior to now yr. Asset managers utilizing Talos’ platform collectively symbolize about $21 trillion in belongings below administration, CEO Anton Katz informed funding financial institution Jefferies on a name with shoppers in November.
The corporate’s 2022 Sequence B was led by Common Atlantic, with participation from companies akin to BNY, Citi (C), Wells Fargo Strategic Capital, and DRW Enterprise Capital, in addition to crypto-focused traders akin 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 lately 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 Methods, Cloudwall, and Skolem as a part of a broader growth via M&A.
learn extra: Tether is claimed to have invested as much as $50 million in Ledn, a cryptocurrency lender valued at $500 million.
