Talos, a New York-based provider of digital asset trading infrastructure, technology, and data, has secured $45 million in a Series B extension round, bringing the total Series B funding to $150 million. The extension values the company at approximately $1.5 billion. This latest funding round includes participation from new strategic investors such as Robinhood, Sony Innovation Fund, IMC, QCP, and Karatage, alongside existing investors a16z crypto, BNY, and Fidelity Investments.
Talos offers institutional-grade technology and data solutions that support the entire digital asset investment lifecycle, including liquidity sourcing, price discovery, trading, settlement, and portfolio management. The company's services cater to institutions managing around $21 trillion in assets.
The new capital will be used to expand Talos' product offerings across trading, risk management, treasury functions, and support for tokenized traditional assets. This move comes amid Robinhood's increasing focus on blockchain-based trading infrastructure, including tokenized assets and on-chain settlement. Johann Kerbrat, Senior Vice President and General Manager of Robinhood's crypto business, emphasized Talos's adaptability in improving liquidity and client tools.
Talos has experienced rapid growth, with revenue and client numbers doubling annually over the past two years. In May 2022, Talos raised $105 million in Series B funding, achieving a valuation of over $1 billion and attaining unicorn status. The company's Series A funding round raised $40 million and was led by Andreessen Horowitz.
The company has been actively forming strategic partnerships to enhance its offerings. Recently, Talos partnered with Uniswap Labs and Fireblocks to provide DeFi liquidity solutions for institutional clients. Talos has also expanded its reach geographically, with offices in London and Singapore, and an entity in Cyprus.
Robinhood's investment in Talos is part of a broader strategy to deepen its involvement in crypto and blockchain infrastructure. Robinhood is developing a blockchain network based on Arbitrum, introducing tokenized stock trading in Europe, and launching staking and perpetual futures products. These initiatives signal a shift toward crypto-native finance and highlight the increasing convergence of traditional finance and digital assets.
