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September 15, 2023

IMMIX Secures $2.7 Million in Seed Funding, Led by MassMutual Ventures

London-based crypto startup crypto trading infrastructures are indeed developments in the ever-evolving landscape of Web3

In an exciting revelation, London-based crypto startup IMMIX has emerged from stealth mode and announced a significant milestone in its journey. The company has successfully secured $2.7 million in seed funding, with MassMutual Ventures taking the lead in this investment round. MassMutual Ventures is renowned for its strategic investments in promising ventures like Zluri and Griffin, and its involvement in IMMIX marks another significant move in the world of crypto startups.

But MassMutual Ventures is not the only player in this funding round. Ripple Ventures, a well-known name in the world of crypto investments, has also joined forces to back IMMIX. This development comes after MassMutual Ventures launched its presence in Europe back in 2022, bringing with it a substantial $300 million fund allocated for investments in early-stage companies across various sectors, including crypto/Web3, climate SaaS, financial technology, enterprise SaaS, and healthtech.

IMMIX, founded by former quantitative traders Andrew Mann and David Twomey, both with backgrounds at prestigious institutions like J.P. Morgan and Virtu Financial, represents a compelling solution to the challenges faced by institutional players in the Web3 trading space. These two visionaries initially ventured into the crypto landscape with a low-latency quantitative crypto hedge fund. However, they soon recognized a pervasive issue shared by many market participants: the need to constantly find workarounds to navigate costly, restrictive, and slow trading infrastructure.

In response to this challenge, IMMIX has evolved into a non-custodial ultra-low latency trading system tailored specifically for institutional investors. This platform empowers institutions to trade crypto assets seamlessly, eliminating the inefficiencies often encountered on other trading platforms. IMMIX's solution comes with a significant latency advantage and can be self-hosted, providing institutional investors with greater control and oversight of their trading operations.

One of the standout features of IMMIX is its ability to offer a Web3 trading service that is not only more cost-effective but also up to 30 times faster than traditional crypto Execution Management Systems (EMS). This remarkable speed, combined with its next-generation financial technologies, positions IMMIX as a formidable force in the institutional Web3 trading arena.

Andrew Mann, Co-Founder of IMMIX, expressed the startup's mission succinctly: "We believe that a new approach to institutional crypto-asset trading infrastructure is required to unlock mass institutional adoption." With the backing of its investors in this seed funding round, IMMIX is well-prepared to usher in new levels of scalability for institutional trading activities within the entire Web3 ecosystem.

Ryan Collins, Managing Partner at MassMutual Ventures, shared his excitement about the partnership, saying, "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."

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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