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Kelp DAO, a leading protocol in the liquid restaking sector, recently secured $9 million in a private token sale round. This fundraising round, concluded in March, positions the company at a fully diluted valuation of $90 million, underscoring the growing interest and confidence in the platform’s potential within the <a href="https://thecoinrise.com/what-is-decentralized-finance-defi/" rel="noopener noreferrer nofollow">decentralized finance</a> (DeFi) ecosystem.&nbsp;
<h2 id="b-lots-of-investors-participated-in-kelp-dao-fundraise-b">Lots of Investors Participated in Kelp DAO Fundraise&nbsp;</h2>
As per the announcement, SCB Limited and Laser Digital spearheaded the round with a $3.5 million investment. Other prominent investors in participation include DACM, Bankless Ventures, Cypher Capital, GSR, HTX Ventures, Hypersphere Ventures, DWF Ventures, and Draper Dragon. Likewise, some notable angel investors participated in the round, like Scoot Moore of Gitcoin, Marc Zeller of the Aave Chan initiative, and many more.
After successfully closing this round of funding, Kelp DAO intends to expand its user base and strengthen its platform, which currently holds more than $850 million in Total Value Locked (TVL) and has a community of over 40,000 users.
<h2 id="b-benefits-of-the-fresh-funding-for-kelp-dao-b">Benefits of the Fresh Funding for Kelp DAO</h2>
According to Amitej Gajjala, the protocol’s co-founder, Kelp DAO’s token is expected to launch soon, although it sold its yet-to-launch KELP token in the round.&nbsp;
Furthermore, the fresh funding will help Kelp DAO utilizes advanced technology to enable users to restake assets without waiting for unbonding periods, thereby increasing liquidity and allowing users to respond to market fluctuations promptly. This adaptability provides a notable benefit for users aiming to maximize their profits while retaining significant control over their assets.
Also, the funds raised will enable the platform to launch liquid staking services for other blockchains, not excluding <a href="https://thecoinrise.com/is-bitcoin-legal/" rel="noopener noreferrer nofollow">Bitcoin </a>(BTC), Solana (SOL), and others, in the third quarter of this year.&nbsp;
<h2 id="b-pantera-capital-to-raise-over-1b-for-blockchain-fund-b">Pantera Capital to Raise Over $1B for Blockchain Fund</h2>
Just last month, Pantera Capital, a digital asset investment manager <a href="https://thecoinrise.com/pantera-capital-plans-to-raise-over-1b-for-blockchain-fund/" rel="noopener noreferrer nofollow">announced its decision to raise over $1 billion for a new fund</a> to provide exposure to several blockchain-based assets. According to Pantera Capital’s website, the Pantera Fund V will include various asset types such as startup equity, early-stage, and liquid tokens.
With $5.2 billion in assets under management (AUM) across its existing funds, <a href="https://thecoinrise.com/pantera-ceo-dan-morehead-believes-that-blockchain-tech-will-see-a-massive-adoption-soon/" rel="noopener noreferrer nofollow">Pantera’s $1 billion raise would be the largest</a> in the cryptocurrency industry since May 2022, when Andreessen Horowitz raised $4.5 billion.
The post <a href="https://thecoinrise.com/kelp-dao-secured-9m-in-a-private-token-sale-round/" rel="noopener noreferrer nofollow">Kelp DAO Secured $9M in a Private Token Sale Round</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Kelp DAO Secured $9M in a Private Token Sale Round

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