Soter Insure, a digital asset insurance provider, has closed its Series A financing round, spearheaded by Galaxy.  

This round also received contributions from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and other participants.  

The company plans to use the investment to strengthen its underwriting and technology teams, which will help scale business across its key markets. 

Galaxy CEO and founder Mike Novogratz stated: “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence. We are excited to contribute to their growth and global expansion.” 

The company aims to address the gap in the Web3 space for adequate insurance solutions. 

Soter Insure was incubated by Further Ventures and WebN Group and offers a range of insurance products such as asset loss, directors and officers (D&O) and smart contract failure coverage.  

These products are denominated in both fiat and native digital assets. 

Soter Insure CEO and founder Henson Orser said: “Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market. With this funding, we will continue to expand our offerings and grow our footprint globally, providing clients with trusted and transparent risk management solutions.”  

Last month, Soter Insure secured full regulatory licence approval from the Bermuda Monetary Authority (BMA).  

This follows an initial approval granted in September 2024 and allows the company to offer customised insurance solutions to institutions within the Web3 ecosystem.  

The insurer is headquartered in Abu Dhabi, United Arab Emirates, and operates out of Bermuda, while also having offices in London, New York and Dubai.