Cision PR Newswire
Atato Announces a $6 Million Series A Raise Led by AlphaLab Capital and FEBE Ventures, for its Multi-Party Computation institutional grade custody for any blockchain or token
News provided byAtato
Jul 27, 2022, 12:00 AM ET
The round includes investors such as Tom Trowbridge, NGC Metaverse Ventures, January Capital, SOSV and other venture funds and angels, endorsing Atato's custodial product for crypto infrastructure.
SINGAPORE, July 27, 2022 /PRNewswire/ -- Atato, a licensed digital asset custodian offering MPC custodial solution aimed at corporates and institutions, announced the close of their successful Series A round today, affirming bullish sentiment for infrastructure projects in blockchain-related markets.
"In bearish markets, crypto adoption scales through infrastructure development."
Led by AlphaLab Capital and FEBE Ventures, Atato's Series A round included top tier investors such as Tom Trowbridge, NGC Ventures, January Capital, Babel Finance and Atato's seed investor SOSV.
"The fact that we've inspired investor confidence in the current market conditions is a clear endorsement of Atato's long-term roadmap and vision," said Guillaume Le Saint, Atato Founder & CEO. "Atato's MPC institutional grade custodial product provides institutions and entities with an extremely cost-efficient solution with enterprise-grade security and regulatory compliance that supports digital assets as well as interact with Web3.0 and DeFi. Our product offerings are well-placed to deliver value to an underserved market segment that desires to explore decentralized finance using Atato's special custodial solution."
Atato's fully regulated custodial solution goes beyond enabling institutions to securely manage their digital assets by combining enterprise-grade security with MPC technology and customizable roles and transaction policies. This reduces the traditional risk of private seed phrase/key management and addresses the risks of human failure or misconduct.
"We're impressed by Atato's user friendly onboarding and UI which also gives power users API access - a unique feature in the market" said Michal Krasnodebski, COO of AlphaLab Capital, "Bring Your Own Chain will also be transformative for institutional customers eager to engage with, and support new chains and projects."
Atato's regulatory advantage and unique service offerings for an MPC custodial solution is a major game-changer for securing and performing transactions for digital assets. With more corporates looking to expand their services into crypto - yet are hesitant due to lack of infrastructure available, Atato's timely emergence truly fulfills a pressing market need with a solution that simplifies the management and security of their digital assets.
As the first custodian worldwide to offer services like Bring Your Own Chain / Bring Your Own Token capabilities, Atato's strategic investors are already involved in developmental trials by inviting their clients to integrate their projects with Atato. This is also bolstered by Atato's attractive fee model, which is a flat fee based on the number of wallets, instead of the usual AUM (Assets Under Management) and transactional percentage fees.
"We believe that the market has matured to a certain level as such that Atato's services are not only desired but required in the current market. As a blockchain security provider - we recognize the need for users to add their own tokens or chains to their wallet regardless of volume or adoption - clients involved in our beta were able to add any token in 1 click - something that was impossible previously," said Maxime Paul, Co-founder of Atato.
"In bearish markets, crypto adoption scales through infrastructure development,'' said Maxime. "We see well-funded projects with strong fundamentals continuing to build through this period - Atato will continue to support their development with our resources and technology."
Speaking on the occasion, Olivier Raussin from FEBE Ventures, said,"With almost a decade of blockchain experience, Atato's founders have been consistent and have a clear, deliverable roadmap that inspires confidence. We are happy to support Atato's growth in their early stage."
Atato's Series A funds raised are committed to further expand Atato's product offerings and fast-track completion of existing beta-development products. This includes retail development, user growth, geographic expansion, and talent acquisition. Atato's headcount has nearly tripled in 3 years of development.
The full group of investors includes: AlphaLab Capital, FEBE Ventures, Babel Finance, NGC Metaverse Ventures, NFT1, Huashan Capital, Tom Trowbridge, Wing Vasiksiri, January Capital, as well as SOSV, and prominent angel investors such as Dan Bertoli and others in the gaming and financial services industry.
Atato is a cryptocurrency custody and wallets provider. Our apps let individuals and businesses securely store, transact, and manage digital assets, as well as access DeFi, NFTs, and all decentralized applications. Our mission is to enable the next 100 million blockchain users. Based in Singapore, founded in 2018, atato has delivered several flagship blockchain projects in South-East Asia.
Investor and Partner Relations
Maxime Paul, Co-founder and Partnerships
Charles Tan, Chief Marketing Officer
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