Galaxy Digital Leads Soter Insure's $23.5M Series B Funding Round

Soter Insure, an Abu Dhabi-based insurtech company focused on digital asset coverage, has closed the first tranche of its Series B funding round. Galaxy Digital led the investment, which brings in notable new names such as Coinbase Ventures and Franklin Templeton, joining existing backers Brevan Howard Digital and other returning investors.

The initial closing of the Series B funding round was announced on July 29. The total capital target for this round is $23.5 million in fiat, with additional funds including over 500 BTC and more than 2,000 ETH expected by final closure.

Soter plans to use the capital to enhance its underwriting capabilities and expand its suite of risk-assessment technologies. This includes products that cover asset loss, directors and officers (D&O) insurance, smart contract failures, and validator slashing events.