Infrared Finance has raised $14 million in a Series A funding round, increasing its total funding to $18.75 million.
Investment in Infrared Finance
Infrared Finance, a liquid staking protocol on Berachain, successfully completed a Series A funding round, securing $14 million. The round, structured as a Simple Agreement for Future Tokens (SAFT), was led by Framework Ventures with additional participation from Citizen X, Halo Capital, No Limit Holdings, NGC Ventures, and Selini Capital. This follows their previous strategic funding round in June 2024, which raised $2.25 million with participation from YZi Labs and others. Infrared's total funding now stands at $18.75 million.
Infrared's Role in the Berachain Ecosystem
Infrared was incubated through Berachain's Build-a-Bera program and developed two liquid staking tokens (LSTs): iBGT and iBERA, linked to the BGT and BERA tokens respectively. With $1.7 billion in total value locked (TVL), Infrared is currently the largest protocol on Berachain, which holds approximately $3 billion in TVL, according to DeFiLlama. The project generates revenue by collecting fees from various reward streams, without charging fees on principal deposits.
Market Challenges and Berachain's Role
Berachain, an Ethereum Virtual Machine (EVM)-compatible Layer 1 blockchain, launched its mainnet and BERA token in February 2025. However, the project has faced criticism over insider control and supply concerns, contributing to a 57% price drop for BERA since its launch. The token currently trades at around $6.30, reflecting broader market uncertainty.
Infrared Finance continues to strengthen its market position through successful investments and integration into the Berachain ecosystem, despite the challenges faced by the blockchain platform.
