Etched raises $700M at a $21B valuation led by Jane Street

Etched has raised $700mn at a $21bn valuation in a round led by Jane Street, doubling the $10.3bn it was worth on 23 July. It has also completed its first customer delivery, a rack shipped to Jane Street.

Etched has raised $700mn at a $21bn valuation, led by Jane Street, and has shipped its first customer rack. The customer is Jane Street.

The valuation has doubled in 26 days. The company was worth $10.3bn on 23 July after a $300mn Series C led by Sequoia, and $5bn in December.

That is roughly four times in eight months, at a company that has just made its first delivery to a paying customer.

Jane Street is not the new arrival the sequence implies. TNW reported in June that the trading firm was already among Etched’s backers, alongside Hudson River Trading, Jump Trading and Two Sigma.

So this is an existing investor...

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