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HOOD (Robinhood) is investing in Talos, an institutional trading technology provider for digital assets, in an extended Series B funding round that values the New York-based company at around $1. 5 billion ‘ 5billion.
In May 2022, Talos raised $105 million in a Series B funding round that valued the company at $1. paraphrasing 25 billion,. According to a press release Thursday, the firm’s total amount raised in its Series B is $150 million with the new extension.
The slack of interest from strategic partners who recognize Talos’s role in providing core institutional infrastructure for digital assets was also extended to our series B round. In emailed comments, Talos CEO and co-founder Anton Katz said “These partners wanted to be more closely aligned with our growth at a time when traditional asset classes are increasingly moving into digital rails.”
The long round also included new strategic investors Robinhood Markets, Sony Innovation Fund, IMC, QCP and Karatage as well as returning backers a16z crypto, BNY and Fidelity Investments.
Johann Kerbrat, SVP and GM of Crypto at Robinhood said in the release ‘Talos’s flexibility and rapid adaptability allows us to deepen our liquidity as well as offer even more sophisticated services to clients who are on Robin Hood.
Robinhood has been expanding its reach in crypto and blockchain infrastructure as part of its broader expansion strategy.
The firm’s blockchain network, which is based on Arbitrum, is also developing its own Blockchain platform and has launched tokenized stock trading and other crypto products in Europe as well as new offerings of staking and perpetual futures, marking a shift towards crypto-native finance. It has also grown strongly in areas like prediction markets, and recently reported increased trading volumes and product engagement as a result of these strategic investments.
A Crypto Trading Technology firm, Talos is a crypto trading technology company that develops institutional-grade infrastructure to power the entire digital asset trading lifecycle for professional investors, brokers and banks. Its platform combines liquidity from exchanges, over-the-counter (OTC) desks and prime brokers to provide institutions with tools for trade execution, risk management and post-trade settlement through one interface or API.
The company has hundreds of clients in around 35 countries, with traditional finance companies accounting for 60% to 70% of new customers over the past year. In a client call in November, CEO Anton Katz told investment bank Jefferies that assets under management are roughly $21 trillion — the sum of which is collectively represented by asset managers using Talos’ platform.
In 2022, General Atlantic participated in the firm’s Series B (with participation of companies such as BNY, Citi (C), Wells Fargo Strategic Capital and DRW Venture Capital) along with crypto-focused investors like SCB 10x and LeadBlock Partners. In the round, there were also members of existing supporters such as Andreessen Horowitz, PayPal Ventures, Fidelity Investments and Castle Island Venture.
During Talos’s notable acquisition spree has been its recent purchase of Coin Metrics for more than $100 million, including its onchain analytics, market data and benchmark indexes as its largest deal yet. Until then, it acquired D3X Systems, Cloudwall and Skolem as part of its wider expansion through M&A.
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