Veda, a platform in the DeFi sector, has successfully raised $18 million in a funding round, aimed at accelerating its development and simplifying services for users.
Funding and Participants in the Round
The $18 million funding round was led by CoinFund and attracted significant investments from players like Coinbase Ventures, GSR, BitGo, and Animoca Ventures. Notable angel investors also participated, including Anchorage CEO Nathan McCauley and Polygon Co-founder Sandeep Nailwal.
Goals and Objectives of Veda
Since its launch in March 2024, Veda has attracted over 100,000 users and more than $3.7 billion in Total Value Locked (TVL). This fresh capital will be used to accelerate Veda's mission to simplify DeFi for both institutional and retail users.
Priorities and Integrations
Central to Veda's offering is its 'BoringVault' infrastructure that abstracts away the technical complexities of DeFi. This universal vault system allows developers and fintech platforms to create yield-generating products that are user-friendly while maintaining self-custody and transparency. The platform is already integrated with services like Binance Wallet and Bybit Web3.
Veda's funding highlights the growing importance of DeFi infrastructure in the context of institutional adoption. By simplifying access to DeFi, Veda is opening new opportunities for financial applications.
