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London Tech Week

IMMIX co-founded by former J.P. Morgan trader raises $2.7M for marketplace to trade crypto assets

IMMIX team
Picture credits: IMMIX

Emerging from stealth mode, London-based crypto startup, IMMIX has just received $2.7 million in seed funding led by MassMutual Ventures known for its investments in Zluri and Griffin. Other investors in the funding round include Ripple Ventures. Back in 2022, the VC firm launched in Europe with a $300 million fund split across APAC and Europe to back early-stage companies across crypto/Web3, climate SaaS, financial technology, enterprise SaaS and healthtech.

The funds from this Seed round will be used to support further developments of IMMIX’s core trading platform, as well as advanced execution for its market-making products. 

“We believe that a new approach to institutional crypto-asset trading infrastructure is required to unlock mass institutional adoption. With the support from our investors in this Seed round, we at IMMIX are strongly positioned to continue enabling new scalability for institutional trading activities across the entire Web3 ecosystem”, said Andrew Mann, Co-Founder of IMMIX.

“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,” noted Ryan Collins, Managing Partner at MassMutual Ventures.

Marketplace to trade crypto assets

IMMIX was founded by former quantitative traders from J.P. Morgan and Virtu Financial – Andrew Mann and David Twomey, who met while completing their PhDs in Computer Science at University College London. It started as a low-latency quantitative crypto hedge fund and the founders realised they were spending over 90% of their time seeking workarounds to costly, restrictive, and slow trading infrastructure, a pain point shared by many market participants.

Addressing this, IMMIX was adapted to be a non-custodial ultra-low latency trading system for institutional investors, which allows them to trade crypto-assets seamlessly without inefficiencies experienced on alternative platforms.

The IMMIX platform provides users with a significant latency advantage and can self-host for institutional investors requiring enhanced control and province over their trading operation. Investors get a Web3 trading service that is cheaper and up to 30x faster than traditional crypto Execution Management Systems (EMS).

With products including the Whitelabel Ultra Low Latency Trading Platform, IMMIX is powering institutional Web3 trading through next-generation financial technologies.

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