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Amber Group Reduces Valuation, Seeks Additional $100M
Crypto trading platform Amber Group lowered its valuation to the $3 billion at which it previously raised, as the company seeks an additional $100 million from investors.
Himanshu S.
12:48 5th Nov, 2022

Tumultuous market conditions caused crypto trading platform Amber Group to reduce its valuation as the company pursues a new funding round.

Amber Group now seeks $100 million at the same $3 billion valuation it previously raised. The company in February was valued at $3 billion as it raised $200 million, led by wealth fund Temasek, and joined by Sequoia China, Pantera Capital, Tiger Global Management, True Arrow Partners and Coinbase Ventures.

Amber attempted to raise again at a much higher valuation between $5 billion-$8 billion, but given a general slump in the crypto market, those funds never materialized.

The adjustments for Amber extend beyond fundraising efforts. Amber recently cut as many as 10% of its staff citing the bear market.

Cautious even with a 25% climb in revenue, the company’s head of business development, Annabelle Huang, previously said that the company will be prudent while bearish conditions persist.


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