BOSTON--(BUSINESS WIRE)--BitOoda, a pioneering digital asset investment bank, announced it completed the first phase of its Series A round, led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of global renewable energy company RWE. The funding will enable BitOoda to accelerate the expansion of new, innovative and compliant capital markets solutions for institutional clients, including investment banking, bespoke structured products, spot and derivatives brokerage, research, and advisory services. The firm also plans to further expand its industry-leading regulatory posture and grow its team to pursue opportunities surrounding the commoditization of high performance compute, tokenization and zero knowledge infrastructure.
“We are thrilled to have successfully closed this phase of our Series A, which will allow us to provide a more comprehensive suite of products and services for our institutional clients,” BitOoda CEO Tim Kelly said. “Now is the time for mature, compliance-focused firms like BitOoda to seize the opportunity created by the failure of unregulated and unsophisticated market incumbents.”
Costas Papamantellos, Managing Director & Head of RWE Energy Transition Investments, added “As blockchain technology, digital assets and high performance compute markets continue to mature, we expect increased applications for established commodity trading risk management solutions. The energy industry needs to work with the growing compute sector to support the global energy transition, especially given the already complex interactions with wholesale electricity markets. BitOoda has demonstrated a commitment to driving this sector forward in a responsible way under appropriate regulatory oversight, and we are excited to support the team’s growth ambitions.”
Contact sales@bitooda.io for more information on the next phase of the company’s growth or to discuss the products and services offered on BitOoda’s global platform.
About BitOoda: BitOoda Holdings Inc. is a U.S. based fully-regulated institutional digital asset financial services firm specializing in commoditization and risk management solutions for the high performance compute sector. BitOoda is regulated by the SEC, the CFTC, and the NY DFS: its subsidiaries include BitOoda Digital LLC, which holds a NY DFS Virtual Currency License; BitOoda Technologies LLC, an SEC/FINRA-registered Broker-Dealer specifically authorized to transact in Digital Securities; and Ooda Commodities LLC, a CFTC/NFA-registered Introducing Broker. For more information, please visit www.bitooda.io or email info@bitooda.io.
About RWE: RWE Energy Transition Investments is an investment vehicle of RWE Supply & Trading GmbH with a mandate to manage a diverse portfolio of Private Equity type financial investments in companies and assets in Europe and North America that support the Energy Transition. RWE Supply & Trading GmbH is a wholly owned subsidiary of RWE AG, an international energy company leading the way to a green energy world. With an extensive investment and growth strategy, the company will expand its green generation capacity to 50 gigawatts internationally by 2030 by investing more than €50 billion gross for this purpose. RWE employs around 19,000 people worldwide and has a clear target: to get to net zero by 2040. Further information is available at www.rwe.com
