The platform Veda has successfully closed an $18 million funding round, attracting several notable investors. The funds will be directed towards expanding decentralized finance functionality.
Funding and Key Participants
Veda closed its funding round in May, with participation from companies such as CoinFund, Coinbase Ventures, GSR, Maelstrom, and Animoca Ventures. Other notable investors include Anchorage and CEO Nathan McCauley, as well as co-founders from EtherFi and Polygon.
Veda's Strategic Plans
According to CEO Sun Raghupathi, the funds raised will be used for the strategic expansion of the platform. Veda plans to increase the number of available strategies, targeting both on-chain and off-chain yield sources. Additionally, enhancements to enterprise services are planned to better support developers.
Simplifying Decentralized Finance
Veda aims to address key challenges facing decentralized finance. Despite the promises of freedom and low risk, DeFi remains complex for users and lacks scalable infrastructure. The platform strives to simplify access to DeFi while preserving self-custody, transparency, and security.
Veda's comprehensive approach to enhancing DeFi and its aim to simplify financing may significantly impact the future of decentralized finance, attracting new audiences and fostering growth.
