Chicago startup ErisX raised a new round of funding to help it launch its cryptocurrency exchange platform.
The company raised $27.5 million in a Series B round from investors, according to ErisX spokesperson Jessica Titlebaum Darmoni. Investors included Fidelity Investments, Nasdaq Ventures, Bitmain, ConsenSys and TradeStation Securities’ parent company, Monex Group. Additionally, CTC Group Investments, Digital Currency Group, DRW Venture Capital, Pantera Capital and Valor Equity Partners also participated in the round.
ErisX raised a Series A round earlier this year, according to Crunchbase, but Darmoni declined to disclose how much the round was worth.
The startup, founded in 2010, is making a software platform that offers individuals and institutions a single place to trade, deposit and withdraw Bitcoin, Ethereum and Litecoin. Pending regulatory approval, the startup expects the platform to be available next year.
The new financing will be used to hire more employees and build out the software’s infrastructure, Darmoni said.
“With increasing financial support from leading edge firms, ErisX stands to provide the most robust, secure and regulated digital asset offering available to both institutional and individual participants,” said ErisX CEO Thomas Chippas in a statement. “Closing this second round of funding enables us to continue building our modern platform and expand our team.”
ErisX's funding news comes as the cryptocurrency space in Chicago heats up. Earlier this year, San Francisco-based Coinbase opened a Chicago office, and in September, Chicago cryptocurrency startup Seed CX raised a $15 million Series B round led by Bain Capital Ventures and OKCoin.
