Andalusia Labs, previously known as RiskHarbor, is a digital asset risk infrastructure firm, which recently raised $48M in a Series A fund round.
- Investor Line Up: The round, led by Lightspeed Venture Partners, pushed the company’s valuation to over $1 billion. Other investors included Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Currency Group.
- Unique Offering: Andalusia Labs, founded by Raouf Ben-Har and Drew Patel, identifies risk management as an essential element in digital assets, acting as a safeguard against potential financial losses, fraud, and ensuring compliance in a fluid risk landscape.
- Funding Allocation: With the new funding, the company has relocated its global headquarters to Abu Dhabi. The raised amount will be used for product development, team expansion, and to support the company’s three primary solutions: Karak, Subsea, and Watchtower.
- Adapting to Market Needs: The company initially targeted both consumers and institutions, but due to high demand from companies wanting to integrate Andalusia Labs’ products, the focus shifted towards developers.
Going forward, the company plans to expand its offerings to cover new risks and other “esoteric real-world applications”. Co-founder Drew Patel highlighted the company’s commitment to innovation, stating: “We are builders at heart, so we are always tinkering with moonshot ideas.”
