Gauntlet, a $DeFi risk management and asset allocation platform, has raised $125 million in a Series C round exclusively from Japanese financial group SBI Holdings—significantly exceeding its Series B round in 2022, which raised nearly $24 million at a valuation of approximately $1 billion.
SBI, a Tokyo-listed financial group with a total market capitalization exceeding $10 billion, has invested in multiple crypto companies including Ripple, Circle, and Morpho.Founded by former Wall Street quantitative analyst Tarun Chitra, Gauntlet initially provided stress testing and risk analysis for $DeFi protocols. In recent years, its business has shifted toward “vault curation,” assessing the risks of various $DeFi yield vault strategies. Its current clients include Apollo, Coinbase, and stablecoin issuer Circle.[PANews]