Abu Dhabi-based risk management solutions provider AndalusiaLabs raised USD 48 mn in a series A funding round, upping its valuation to USD 1 bn, according to a press release. Lightspeed Venture Partners led the funding, with Mubadala Capital, PanteraCapital, Framework Ventures, Bain Capital Ventures, Digital Currency Group, Coinbase, Proof Group, Nima Capital, and American entrepreneur Naval Ravikant (LinkedIn) also participating.

Where the money’s going: The company plans to direct the investment towards product development and institutional partnerships, with eyes on global expansion.

What they said: “Andalusia Labs is addressing one of the most significant challenges in the blockchain industry today. Lightspeed is excited to partner with them as they aim to bring their infrastructure to every institution, developer, and consumer in the industry,” said Lightspeed partner Ravi Mhatre.

About Andalusia: The Mubadala-backed startup offers novel Web3 risk management infrastructure, including an institutional security platform, currently in private Beta, and a risk management marketplace that has secured over USD 1 bn in digital assets.

Onto bigger things: The global blockchain leader opened headquarters in the Abu Dhabi Global Markets (ADGM) after the success of its funding round, according to the press release.

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