Kelp DAO completes $9 million private funding round, will continue to focus on innovation in the restaking sector
TechFlow Selected TechFlow Selected
Kelp DAO completes $9 million private funding round, will continue to focus on innovation in the restaking sector
Kelp DAO currently has a TVL of over $950 million and more than 40,000 active restakers.
Navigating Web3 tides with focused insights
Dubai, UAE – May 22, 2024 – Kelp DAO, a leading liquidity restaking platform, today announced the successful completion of a $9 million private funding round, marking another significant milestone in its mission to advance decentralized finance (DeFi) and the restaking landscape.
The round was co-led by SCB Limited, a Bahamas-based trading firm, and Laser Digital, the digital finance arm of Japanese banking giant Nomura Group. Additional participants 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 Web3port.
With over $950 million in total value locked (TVL) and more than 40,000 active restakers, Kelp DAO will use the new capital to enhance platform functionality, expand services to other ecosystems such as Solana and Bitcoin, and further drive innovation in the restaking sector.
This funding round reflects strong global investor confidence in Kelp DAO and the broader restaking ecosystem, and is further supported by several prominent angel investors from the crypto community, including Scott, Co-founder of Gitcoin; Alex, CEO of Nansen; Sam K, Co-founder of Frax; Marc Zeller of Aave Chan Initiative; Saurabh Sharma from Jump Crypto; Amrit, COO of Altlayer; Anthony, Co-founder of Swissborg; and Winslow Strong of Mr. Block.
Dheeraj Borra, Co-founder of Kelp DAO, said:
“This funding accelerates our market expansion and strengthens our commitment to building customer-centric solutions. It’s exciting to share this vision with our investors.”
Kelp DAO’s founders, Amitej Gajjala and Dheeraj Borra, expressed their gratitude to the investors for their support and reaffirmed their commitment to achieving further milestones in restaking innovation.
Jez Mohideen, CEO of Laser Digital, also voiced strong support for the project:
“We are thrilled to support Kelp DAO and its passionate team on their journey to build innovative restaking infrastructure solutions.”
Jack Platts, Co-founder of Hypersphere Ventures, reiterated his optimism about the round:
“We’re excited about the potential for restaking to enable greater experimentation and application development. Kelp’s team strength and focus on user experience have been key to early success in restaking. We look forward to the team realizing their vision of enhancing returns and options for ETH stakers.”
Going forward, Kelp DAO will continue to deepen its presence in the restaking space, delivering innovative solutions to the industry while offering participants enhanced user experiences and richer yield opportunities.
About Kelp DAO:
Kelp DAO is one of the leading liquidity restaking protocols, managing over $950 million in assets with more than 45,000 restakers. Kelp DAO’s Liquidity Restaking Token (LRT) was the first to launch on Ethereum mainnet, pioneering the integration of liquidity restaking with liquid staking tokens (LSTs). Today, Kelp DAO offers liquidity restaking services for native ETH and LSTs across Ethereum mainnet and eight Layer 2 networks.
About Laser Digital:
Backed by Nomura Group, Laser Digital provides scalable and robust opportunities in trading, asset management, and venture investments. The team operates under higher standards of risk management, compliance, and commercial viability, committed to responsible crypto innovation.
For more information, visit: https://www.laserdigital.com/
About SCB Limited:
SCB Limited is a trading firm headquartered in the Bahamas, actively engaged in the digital asset ecosystem. Its support will play a crucial role in driving the protocol’s future growth and success.
Media Contact
Archana B
Head of Communications
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@KelpDAO
