IMMIX secures $2.7m in seed funding led by MassMutual Ventures to advance its crypto-asset trading platform.
The seed round was led by MassMutual Ventures and will support product development for institutional crypto trading.
≈ £2.2M at $1 = £0.8007 on 13 Sep 2023
A London-based crypto startup providing non-custodial trading infrastructure designed for institutional market participants.
London-based crypto startup IMMIX has secured $2.7m in seed funding led by MassMutual Ventures, with participation from Ripple Ventures. The capital will be directed towards enhancing the core trading platform and advancing execution capabilities for market-making products.
Founded by former quantitative traders Andrew Mann and David Twomey, IMMIX emerged from stealth to address the high costs and latency issues inherent in traditional institutional crypto-asset trading infrastructure. The firm originally operated as a quantitative hedge fund before pivoting to build a non-custodial trading system tailored for institutional clients.
The platform allows institutional investors to trade crypto assets with self-hosting options and significant speed advantages compared with conventional execution management systems.
From the founder
"We believe that a new approach to institutional crypto-asset trading infrastructure is required to unlock mass institutional adoption. With the support from our investors in this Seed round, we at IMMIX are strongly positioned to continue enabling new scalability for institutional trading activities across the entire Web3 ecosystem"
Andrew Mann
Co-Founder at IMMIX
Investor perspective
"Fuelled by their next-generation financial technologies, IMMIX is tackling the critical challenges for institutional Web3 trading caused by restrictive and high-cost infrastructure. It gives those working in a dynamic and fast-moving market a competitive advantage. We are excited to see the launch of IMMIX and look forward to working closely with Andrew and David,"
Ryan Collins
Managing Partner, MassMutual
Use of funds
- 01Continue product development
