Recent Funding Rounds For Defi Projects

DeFi is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. Let’s see outstanding DeFi projects below

Fordefi – Raises $18M Seed Round to Launch Institutional DeFi Wallet and Security Platform

Fordefi is the first and only institutional MPC wallet and security platform built for DeFi

Nov. 8, 2022, Fordefi, a New York– and Tel Aviv, Israel-based financial technology and software company, raised $18M in Seed funding and the public launch of its institutional MPC wallet built for transacting on decentralized applications (dApps). Led by Lightspeed Venture Partners, the investors of the firm’s initial capital raise also include Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital and StarkWare.

The company intends to use the funds to cement its strategic position and accelerate growth and business reach.

Archax –  Raised $28.5M in a Series A funding round

The UK’s first regulated digital asset exchange, Archax, has closed $28.5 million in a Series A funding round. Archax, the FCA-regulated digital asset exchange, brokerage, and custodian based in London, has Nov. 8, 2022, announced closing its Series A raise of $28.5m. abrdn led the round as a strategic investor, with involvement from other firms, including Bitrock Capital, Blockchain Co-investors, CE Innovation Capital, Keiretsu Capital, Lingfeng Capital, Mathrix AG, SGH Capital, and The Tezos Foundation. Archax has revealed plans to offer a range of regulated crypto exchange-traded products (ETPs) shortly.

Archax is the UK’s first and only digital securities exchange, brokerage, and custodian licensed by the FCA. The firm allows institutional investors to custody and trade a wide range of digital assets, including digital securities, cryptocurrencies, and traditional deposits.

SynthMeta – Raised $2M in Unknown financing round

SynthMeta has raised $2,000,000 in Unknown financing round on 2022-11-07. With participation by: Gate.io, Kyros Ventures, MXC Foundation

SynthMeta is a Derivatives Infrastructure built on synthesis asset algorithms, consisting of four major modules: Synth Minter, Synth Perpetual, Synth NFT, Synth LaunchPad. SynthMeta is focused to building One-Stop Derivatives Solutions that bridges the traditional financial and crypto worlds via Minter, Exchanges, NFTs, and Project Finance Platform.

Testure – Raised $5 million in an unknown financing round 

DeFi yield platform Texture has raised $5 million in a round co-led by P2P Capital and Sino Global and is now live in private beta testing. Other investors in the round include Wintermute, Semantic Ventures, and Jane Street Capital. The funds were raised in the stablecoin USDC, and the valuation was not disclosed.

The Texture is a DeFi platform running on the Solana blockchain. Its first product provides higher yields to those looking to stake their SOL tokens. It uses a leveraged staking strategy to achieve this, similar to tokens on Ethereum like the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index (ETHMAXY). 

Centrifuge – Raised $4 million in a strategic round.

Decentralized finance protocol Centrifuge has raised $4 million in a strategic round from backers Coinbase Ventures, BlockTower, Scytale, and L1 Digital.

The Berlin-based project enables real-world assets — such as real estate, consumer credit, and invoices — to be tokenized and leveraged within DeFi services. Such tokenization has been seen as one of the core use cases for blockchain technology, as it allows for more transparent and liquid markets.

Ordeerly Network – The crypto subsidiary of Japanese banking giant Nomura

Laser Digital, a Nomura company backs Decentralized Finance (DeFi) infrastructure builder incubated by NEAR and WOO Network
NASSAU, Bahamas, Nov. 1, 2022, Orderly Network, a permissionless, decentralized trading infrastructure built on the NEAR blockchain, has completed fundraising from Laser Digital, a crypto subsidiary of global financial services group, Nomura.
This new funding comes just a few months after announcing a separate $20 million funding round led by a group of venture capital heavyweights including Pantera Capital, Dragonfly Capital, and Sequoia China.

Orderly Network is a decentralized trading infrastructure protocol that allows projects to build DeFi applications. It was incubated by the Near Foundation and Woo Network. 

Verdict

Decentralized finance (DeFi) is filling the gap between the novelty world of cryptocurrencies and the traditional financial system we all are well aware of. The DeFi project provides users with some financial services such as loans, lending, and insurance, which are normal with traditional financial institutions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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