Talos Secures $150 Million in Series B Funding Round

Talos, an institutional digital asset infrastructure provider, has extended its Series B financing with a $45 million raise, bringing the round’s total to $150 million and lifting its post-money valuation to about $1.5 billion. The update was announced as a strategic Series B extension that adds new investors alongside returning backers. The extension adds new strategic backers—Robinhood Markets, Sony Innovation Fund, IMC, QCP, and Karatage—while reaffirming support from returning investors including a16z crypto, BNY, and Fidelity Investments, as Talos positions itself to serve institutions trading crypto today—and tokenized versions of traditional assets tomorrow.

Talos raises $150 million to enhance digital asset infrastructure

Talos Secures Strategic Series B
– What happened: Talos added a $45M Series B extension, bringing Series B total funding to $150M.
– Who joined: New strategic investors include Robinhood Markets, Sony Innovation Fund, IMC, QCP, and Karatage; returning investors include a16z crypto, BNY, and Fidelity Investments.
– What it implies: The round is positioned as strategic—bringing in investors that are also ecosystem participants (liquidity, trading, infrastructure) as institutions push for end-to-end workflows (execution, risk, treasury, settlement) rather than point tools.

The Series B extension reflects sustained demand for institutional-grade tooling across the trading lifecycle—front office execution through middle- and back-office workflows—at a time when large financial firms are increasingly exploring blockchain-based rails for settlement, custody, and asset issuance.

Talos CEO and co-founder Anton Katz said the company expanded the round to accommodate strategic partners that see Talos as “core institutional infrastructure for digital assets,” adding that the goal is to help build “the foundation for the next generation of financial markets.”

Overview of Talos’s Series B Funding

Talos’s latest $45 million extension follows its earlier Series B financing. The company said the round is strategic in nature, bringing in investors that are also clients and ecosystem partners spanning trading, liquidity provision, custody, and infrastructure.

Item	Detail
Series B extension amount	$45 million
Total Series B raised (after extension)	$150 million
Post-money valuation (company-stated, approximate)	About $1.5 billion
Round positioning	Strategic extension adding new ecosystem partners alongside returning backers

New Strategic Investors in Talos

The extension introduces a set of new investors that signal both retail-to-institution connectivity and deeper market-structure expertise.

Investor	Type	Strategic relevance to Talos (as described in the announcement)
Robinhood Markets	Retail brokerage / crypto venue	Liquidity depth and advanced features for Robinhood Crypto customers
Sony Innovation Fund (Sony Ventures Corporation)	Corporate venture	Validation of Talos’s evolution into a full front-, middle-, and back-office platform with data/analytics
IMC	Trading / market-making	Emphasis on institutional requirements: performance, safety, reliability
QCP	Trading firm	View of digital assets as “rails” for broader capital markets; infrastructure for trading and risk
Karatage	Investment firm	Long-term infrastructure thesis as traditional finance migrates to digital rails

Robinhood Markets

Robinhood Markets joined as a strategic investor, aligning with its push to expand crypto capabilities. Johann Kerbrat, SVP and GM of Crypto at Robinhood, said Talos’s flexibility and speed of adaptation can help Robinhood deepen liquidity and deliver more advanced features to Robinhood Crypto customers.

Sony Innovation Fund

Sony Innovation Fund participated through Sony Ventures Corporation. Kazuhito Hadano, CEO of Sony Ventures Corporation, said the firm was impressed by Talos’s evolution from order execution into a broader front-, middle-, and back-office platform, complemented by data and analytics—capabilities aimed squarely at large institutions scaling digital asset operations.

IMC, QCP, and Karatage

The round also included IMC, QCP, and Karatage, adding market-making and trading expertise to Talos’s investor base.

• IMC said Talos’s focus on institutional requirements—performance, safety, and reliability—positions it as a preferred gateway for institutions entering digital asset markets.
• QCP framed digital assets as increasingly becoming “the rails for broader capital markets,” with Talos building infrastructure to trade, manage risk, and allocate capital through that transition.
• Karatage described Talos as essential infrastructure as traditional finance migrates to digital rails.

Returning Investors and Their Confidence

Returning Investor Conviction Signals
Signals of returning-investor conviction in this extension are primarily qualitative (who re-upped and what the round is for), but they’re reinforced by two concrete elements disclosed alongside the raise:
– Continuity of backers: the extension included returning investors including a16z crypto, BNY, and Fidelity Investments.
– Continuity of thesis: the company frames the round as strategic—investors are also clients/partners spanning trading, liquidity, custody, and infrastructure.

The extension also drew participation from existing backers, underscoring continuity in Talos’s institutional narrative.

a16z crypto

a16z crypto returned for the extension, reinforcing venture confidence in infrastructure plays that sit between exchanges, liquidity providers, custodians, and institutional workflows.

BNY Mellon

BNY Mellon’s continued participation highlights the growing overlap between traditional financial plumbing and digital asset market infrastructure.

Fidelity Investments

Fidelity Investments also returned, consistent with its broader engagement in digital assets and institutional access.

Post-Money Valuation and Financial Growth

Valuation Signal vs Business Reality
– What the ~$1.5B post-money valuation can signal: investors may be pricing in Talos’s role as “picks-and-shovels” infrastructure (connectivity, workflow coverage, reliability) as more institutions participate.
– What it doesn’t prove on its own: valuation is an estimate tied to a financing event, not a direct measure of liquidity, profitability, or future market share.
– The balancing datapoint Talos disclosed: the company cited that it has roughly doubled revenues and the number of clients each year for the past two years—traction that helps explain why strategic partners wanted closer alignment.

The company also reported strong operating momentum, citing that it has roughly doubled revenues and the number of clients each year for the past two years, a key metric for infrastructure providers competing on connectivity, reliability, and breadth of workflow coverage.

Investment Utilization for Product Development

Talos Investment Focus Areas
A practical way to read Talos’s stated product investment areas is by “platform layer” (what institutions typically need to run day-to-day):
– Front office (trading): execution workflows and liquidity access.
– Middle office (controls): portfolio construction and risk management.
– Back office (operations): treasury, settlement, and post-trade tooling.
– Cross-asset expansion: support for traditional assets as they migrate to tokenized/digital forms.

Talos plans to use proceeds to expand product development across its platform, spanning portfolio workflows, execution, and post-trade tooling—while preparing for a world where more traditional instruments are issued and managed in tokenized form.

Portfolio Construction and Risk Management

Talos intends to enhance tools that help institutions build portfolios and manage risk—capabilities that become more critical as firms expand beyond spot crypto into more complex strategies and exposures.

Treasury and Settlement Tools

The company also plans to invest in treasury and settlement functionality, targeting operational efficiency and tighter integration between trading activity and post-trade processes.

Tokenization of Traditional Assets

A central theme of the raise is preparing for traditional asset classes migrating to digital rails. Talos said it plans to expand platform support as conventional instruments increasingly take tokenized forms.

Significance of Stablecoins in the Investment

Stablecoin Settlement Workflow Overview
At a high level, “settled using stablecoins” typically means:
1) Parties agree on the payment rail (which stablecoin/network) and settlement timing.
2) Funds are transferred on-chain to the recipient’s designated address.
3) Both sides verify receipt and finality per their operational policy (confirmations/settlement status).
4) Internal books/records are updated to reflect the completed cash leg of the transaction.
Why it’s notable here: it shows blockchain-based payment rails being used in an institutional financing workflow—not just in trading.

Talos said a portion of the investment was settled using stablecoins, reflecting the growing use of blockchain-based payment rails in institutional transactions.

Talos’s Recent Revenue Growth and Client Expansion

Parallel Growth in Revenue and Clients
Traction signals Talos disclosed alongside the extension:
– Growth rate: the company said it has roughly doubled revenues each year for the past two years.
– Customer expansion: it also said it has roughly doubled the number of clients each year over the same period.
Operational implication: for infrastructure providers, scaling clients and revenue in parallel often indicates broader workflow adoption (more desks, more venues, more post-trade usage), not just one-off pilots.

The company’s pitch to investors rests on adoption and scale: That pace suggests continued institutional onboarding and deeper usage across trading and operational workflows, as firms seek consolidated platforms rather than fragmented point solutions.

Strategic Acquisitions to Enhance Capabilities

Talos has also pursued acquisitions to broaden its product surface area across data, risk, DeFi infrastructure, and portfolio engineering.

Acquisition	Capability added (as described)	Why it matters for an institutional platform
Coin Metrics	Data and analytics	Supports research-grade market data, metrics, and analytics expectations
Cloudwall	Risk management and security posture	Aligns with institutional controls, resilience, and governance needs
Skolem	DeFi infrastructure	Helps bridge on-chain markets with institutional workflows
D3X Systems	Portfolio engineering	Strengthens portfolio construction/engineering capabilities

Coin Metrics

Talos acquired Coin Metrics, strengthening its data and analytics capabilities—an increasingly important differentiator for institutions that require robust market data, metrics, and research-grade tooling.

Cloudwall

The acquisition of Cloudwall bolsters Talos’s risk management and security posture, supporting institutional expectations around controls and resilience.

Skolem and D3X Systems

Talos also acquired Skolem and D3X Systems, expanding capabilities tied to DeFi infrastructure and portfolio engineering—areas that can help institutions bridge on-chain markets with traditional portfolio processes.

Integration with BlackRock’s Aladdin Platform

Digital Execution in Aladdin Workflows
Why the Aladdin/RFQ mention matters in institutional terms:
– RFQ is a familiar execution workflow for many institutional desks (request quotes from liquidity providers, then trade).
– Embedding that workflow with BlackRock’s traders on Aladdin suggests digital asset execution is being pulled closer to existing portfolio and order-management routines.
– Practically, integrations like this can reduce “tool switching” and operational friction—often a prerequisite for broader adoption beyond specialist teams.

Talos recently launched an RFQ (request-for-quote) platform with BlackRock’s traders on the Aladdin platform, a high-profile integration that underscores how digital asset execution is being embedded into established institutional workflows. The move positions Talos as connective tissue between traditional portfolio systems and digital asset liquidity.

Institutional Adoption of Digital Assets

From Pilot to Scale
A simple institutional adoption curve (and what infrastructure must provide at each stage):
– Explore: connectivity, market data, basic execution.
– Pilot: risk controls, governance, reporting, and reliable settlement.
– Scale: integrated front/middle/back office workflows, multiple venues/liquidity sources, operational resilience.
– Expand: support for tokenized traditional assets and cross-asset treasury/settlement rails.
Talos is positioning around the “pilot → scale” handoff, where workflow integration and controls become decisive.

The Series B extension lands amid a broader shift: digital assets are increasingly treated not as a standalone niche, but as infrastructure that can support issuance, trading, and settlement across markets. Talos is betting that institutions will demand the same standards they expect in traditional markets—deep liquidity access, robust risk tooling, and integrated post-trade operations—delivered through a single platform.

Talos Series B Funding: A New Era for Digital Asset Infrastructure

Key Signals to Monitor Next
What to watch next if you’re tracking Talos (or institutional digital-asset infrastructure more broadly):
– Product delivery: do portfolio/risk and treasury/settlement upgrades ship as integrated workflows (not separate modules)?
– Tokenization support: which traditional asset classes get first-class coverage as “digital rails” expand?
– Institutional integrations: do more incumbent platforms adopt RFQ/execution connectivity similar to the Aladdin workflow?
– Stablecoin settlement usage: does it remain a one-off convenience, or become a repeatable institutional payment rail?
– Traction follow-through: does the disclosed pattern of doubling revenue and clients continue as the market matures?

Talos’s $150 million Series B round, now fully extended, is less a one-off capital event than a marker of where institutional crypto infrastructure is heading: toward integrated platforms, strategic partnerships, and tooling designed for tokenized versions of familiar assets.

Significance of the $150 Million Funding

The raise strengthens Talos’s balance sheet while validating its role as a core infrastructure provider. The valuation reflects investor expectations that institutional adoption will continue—and that the winners will be platforms that can unify execution, risk, data, and settlement.

Strategic Partnerships and Their Impact

New investors such as Robinhood and Sony Innovation Fund add distribution and ecosystem leverage, while trading-focused firms like IMC and QCP bring market-structure credibility. Combined with returning support from a16z crypto, BNY Mellon, and Fidelity, the cap table increasingly mirrors the institutional audience Talos serves.

Future Prospects and Industry Implications

With product investment planned across portfolio construction, risk, treasury, settlement, and tokenization support—and with stablecoin settlement already used in the financing—Talos is positioning for a market where digital rails are not optional add-ons, but a default layer for how assets move, trade, and settle.

This perspective is informed by Martin Weidemann’s work building and scaling technology-driven businesses in regulated fintech and payments environments, where execution, risk controls, and post-trade operations tend to matter as much as the trading interface itself.