Atato Raises $6 Million Series A Funding To Expand Its Digital Asset Technology The round includes investors such as Tom Trowbridge, NGC Metaverse Ventures, January Capital, SOSV and other venture funds and angels
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Atato, a licensed digital asset custodian offering MPC custodial solution aimed at corporates and institutions, has closed a Series A round today. Led by AlphaLab Capital and FEBE Ventures, Atato's Series A round included various investors such as Tom Trowbridge, NGC Ventures, January Capital, Babel Finance and Atato's seed investor SOSV.
Atato's Series A funds raised are committed to further expand Atato's product offerings and fast-track completion of existing beta-development products, said a statement. This includes retail development, user growth, geographic expansion, and talent acquisition; Atato's headcount has nearly tripled in 3 years of development, added the statement.
"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. 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," said Guillaume Le Saint, Atato founder and CEO.
Atato's fully regulated custodial solution claims to go 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. Bring Your Own Chain will also be transformative for institutional customers eager to engage with, and support new chains and projects," said Michal Krasnodebski, COO of AlphaLab Capital.
Atato claims that its regulatory advantage and unique service offerings for an MPC custodial solution are a major game-changer for securing and performing transactions for digital assets. With more corporates looking to expand their services into crypto, despite hesitancy due to a lack of infrastructure available, Atato's timely solution simplifies the management and security of their digital assets, claims the company.
