MassMutual Ventures leads $2.7m round in Web3 trading startup

The Immix team/ Photo credit: Immix

Immix, a London-based crypto startup, has secured US$2.7 million in a seed round led by MassMutual Ventures (MMV). Participants in the round include Ripple, a global provider of payments and blockchain solutions.

The funds will be used to develop Immix’s trading platform and to improve its execution capabilities for market-making products.

Originally established in 2019 as a crypto hedge fund, Immix shifted its focus after its founders, Andrew Mann and David Twomey, found that many market participants were grappling with expensive, restrictive, and sluggish trading platforms.

The company’s current offering is a non-custodial trading system for institutional investors. The platform allows investors to scale their trading activities across the Web3 ecosystem by offering “significantly” lower latency compared to traditional crypto execution management systems (EMS).

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Immix positions itself as a cheaper alternative that’s up to 30x faster than the traditional crypto EMS. It also allows users to self-host, giving them increased control and autonomy over their trading operations.

“We believe that a new approach to institutional crypto-asset trading infrastructure is required to unlock mass institutional adoption,” Mann said in a statement.