Soter Insure has secured $23.5 million in the first tranche of its Series B funding round, spearheaded by Galaxy Digital. The raise also includes significant crypto contributions exceeding 500 BTC and 2,000 ETH, aiming to bolster the company’s underwriting capabilities and develop its risk-assessment tech further.
Expanding Coverage Amid Growing Demand
Since its launch, Soter Insure has concentrated on providing insurance products tailored for digital asset risks such as smart contract failures, validator slashing on proof-of-stake networks, and asset loss scenarios. This new injection of capital will accelerate the expansion of these offerings. The firm's pioneering move came in March 2026, when it introduced the first-ever Ethereum-denominated slashing insurance, created in partnership with Galaxy Digital. Slashing, a penalty mechanism in networks like Ethereum, can be a costly event for validators, making such insurance increasingly critical.
Backing from Big Names in Crypto and Finance
Galaxy Digital’s continued support is a major vote of confidence, following their leading role in Soter’s Series A round in February 2025. New investors joining this round include Coinbase Ventures and Franklin Templeton, alongside returning backers like Brevan Howard Digital. Soter’s strategy also involves maintaining regulatory compliance, holding a full license from the Dubai Financial Services Authority, which positions the company well within the rapidly evolving crypto insurance landscape.
With digital assets attracting more institutional attention, Soter’s hybrid BTC/USD policies, launched in partnership with Dubai Insurance P.S.C. and Deus X Capital last year, have set the stage for innovative insurance solutions in the sector.
This article is for informational purposes only and does not constitute financial advice.
