3Commas, an automated crypto trading investment platform, has raised $37 million in a Series B funding round.
The startup offers advanced trading tools and automated strategies managed by trading bots that it says have proven to help users earn profits through all market conditions.
The round was led by Target Global, Alameda Research, Jump Capital and Dmitry Tokarev, founder and CEO of Copper.
3Commas says the capital will be used to advance its machine learning and artificial intelligence trading bots to deliver higher profitability, expand its trading ecosystem and enhance developers’ access to APIs to create apps used by 3Commas traders within the ecosystem.
Additionally, 3Commas has used this investment to hire a robust research and development team to create DeCommas, a recently launched subsidiary which provides users with easier access to trade automation in decentralised finance.
“3Commas was created with the goal to help people achieve financial freedom by expanding access to complex, crypto trading strategies through powerful trading bots,” said Yuriy Sorokin, CEO and founder of 3Commas.
“Through this fundraise, our investors have shown overwhelming confidence that we are executing this vision.
“We are excited to continue to build technology that democratises access to the transformational benefits of crypto by relentlessly advancing our technology and offering a suite of developer tools to make 3Commas the destination for investment app innovation.”