DeFi
Kelp DAO Closes $9M Private Sale to Improve DeFi and Resttaking
Kelp DAO secures $9 million in private sale round to boost decentralized finance and jump-start platform development.
Kelp DAO, a liquid restocking platform, has successfully closed a $9 million private sale round. This milestone is expected to advance its mission to improve decentralized finance (DeFi) and transform the refinancing landscape.
At the head of the round were SCB Limiteda proprietary trading company based in the Bahamas, and Digital Laser, the digital assets arm of Nomura Global, together contributing $3.5 million. Other prominent investors included Bankless Ventures, Hypersphere, Draper Dragon, DACM, Cypher Capital, ArkStream, Cluster Capital, GSR, Longhash, Side Door Ventures, NOIA Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, Coinseeker and several others.
The funds raised will build on the platform’s already impressive metrics, including over $850 million in total value locked (TVL) and a community of over 40,000 active restakers. This capital injection will aim to improve the platform’s capabilities, expand to other ecosystems such as Solana and Bitcoin, and drive innovation in reskilling solutions.
This successful financing round highlights the strong confidence of global investors. Additionally, he has enjoyed the support of several notable angel investors within the crypto community, such as Scott, co-founder of Gitcoin; Alex, CEO of Nansen; Sam K, co-founder of Frax; Marc Zeller of the Aave Chan Initiative; Saurabh Sharma of Jump Crypto; Amrit, COO of Altlayer; Anthony, co-founder of Swissborg; and Winslow Strong by Mr. Block.
Dheeraj Borra, Co-Founder, Kelp DAO, said, “This fundraise propels our market expansion and further focuses on creating customer-centric solutions. It’s really exciting to see our investors share this vision. The two founders of Kelp DAO, Amitej Gajjala and Dheeraj Borra, expressed their gratitude for the support of investors to drive Kelp DAO to new heights in restructuring solutions.
Jez Mohideen, CEO of Laser Digital, added his support for the project, saying: “We are very pleased to support Kelp DAO and its passionate team on their journey towards creating innovative restructuring infrastructure solutions. »
This enthusiasm was reiterated by Jack Platts, co-founder of Hypersphere Ventures, saying: “We are excited about the prospect of recovery enabling more experimentation and use cases by developers. Kelp’s proven team and focus on user experience play a key role in the early success of this takeover. We look forward to the team realizing their vision of improving returns and optionality for ETH stakeholders.
Kelp DAO has established itself as one of the leading liquid refinancing protocols with over $850 million in assets under management and a strong community of over 45,000 buyers. The platform’s Liquid Rollover Token (LRT) was the first of its kind to be deployed on the Ethereum mainnet, pioneering the concept of Liquid Rollover with liquid stake tokens. Currently, Kelp DAO facilitates liquid replenishment for native ETH and liquid staking tokens on the Ethereum mainnet and eight layer 2 networks.
Nomura’s Laser Digital is a key supporter of Kelp DAO, providing scalable and robust opportunities in trading, asset management and enterprise. The Laser Digital team adheres to higher standards of risk management, compliance and business viability, driven by a strong belief in responsible crypto innovation.
With this new influx of funds and investor confidence, Kelp DAO is well-positioned to continue leading the charge in the DeFi space, offering enhanced refinancing solutions and expanding the reach of its ecosystem, ensuring that it remains at the forefront of decentralized financial innovation.