Elwood Technologies, a London-based platform providing institutional-grade access to the digital asset markets, announced today that it has raised $70 million in the Series A funding round. Financial services giants like Barclays and Goldman Sachs also invested in Elwood.
One of the biggest B2B investors in Europe, Dawn Capital co-led the recent investment round along with Goldman Sachs. With the latest capital, Elwood is planning to expand its products for institutional clients. The London-based firm aims to enhance its operations to meet the growing global demand.
"Elwood was established to meet the needs of institutions seeking to secure exposure to digital assets by providing a robust and transparent platform that delivers the highest standards expected in traditional finance. We have entered a new chapter in Elwood's journey and continue to expand our capabilities, enabling our institutional clients to provide their users with improved access to digital assets. The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers,” James Stickland, the CEO of Elwood Technologies, said.
Earlier this year, Bloomberg announced a partnership with Elwood Technologies for strategic integration.
Institutional Crypto Demand
Amid the rising global popularity of digital assets, institutional crypto demand has surged in the past few years. Mathew McDermott, the Global Head of Digital Assets at Goldman Sachs, said that the bank’s recent investment in Elwood highlights its commitment to the expansion of its digital asset services.
The General Partner of Dawn Capital, Josh Bell, said: "At Dawn, we continue to seek out first-class infrastructure that will continue to support the rapid evolution of the digital asset market. Our investment in Elwood was a natural fit, given the business's cutting-edge technology, experienced team and significant market opportunity. Now is an important moment in Elwood's evolution as its technology moves to the mainstream, and we look forward to supporting them to unlock access to the digital asset market for institutions everywhere."
