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December 13, 2023
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Andalusia Labs: Unicorn Achievement with $48M Lightspeed-Led Series A.

Digital asset risk management infrastructure provider, Andalusia Labs, has successfully raised $48 million in a Series A funding round, achieving a valuation of $1 billion and thereby reaching Unicorn status. The funding round was spearheaded by Lightspeed Venture Partners, with contributions also coming from Mubadala Capital and other existing investors such as Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group.

  • Andalusia Labs secured $48 million in a Series A funding round led by Lightspeed Venture Partners, resulting in a $1 billion valuation.
  • The fundraise saw participation from other investors like Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group.
  • The company concurrently launched its global headquarters in Abu Dhabi’s Financial Center, demonstrating its commitment to global expansion.

Formerly known as RiskHarbor, Andalusia Labs also announced the launch of its global headquarters in Abu Dhabi’s Financial Center, further underscoring their commitment to the expansion of the company’s global footprint. The move has also strengthened Andalusia Lab’s relationship with Mubadala Capital, the asset management subsidiary of the Mubadala Investment Company, which is one of Abu Dhabi’s two sovereign wealth funds with $280 billion assets under management.

Ravi Mhatre, Partner at Lightspeed Venture Partners cited the dedication of Andalusia Labs to addressing challenges in the blockchain industry as a key reason for investing. Andalusia Labs offers a technology suite used to address risk and security issues in the blockchain industry. Products include Karak, a layer-2 risk management infrastructure provider for blockchain; Subsea, a risk management marketplace for digital assets; and Watchtower, which provides institutional security for digital assets.

Andalusia Labs was commended by its founders, Raouf Ben-Har, and Drew Patel, for its commitment to constructing premier risk management infrastructure. The funds raised from the Series A round will be utilized to advance product development for Andalusia, with the intention of unlocking the full potential of digital assets.

Shaun Lee, a partner at Mubadala Capital, expressed his enthusiasm towards the partnership with Andalusia Labs. He added that the opening of the company’s global headquarters in Abu Dhabi would lay the groundwork for their global scaling efforts and strategically position the company for unrivaled growth.

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