TechFlow news, December 3 — According to Fortune, Ostium, a decentralized exchange founded by two Harvard graduates, has raised $20 million in a Series A funding round led by venture capital firm General Catalyst and Jump Trading's crypto arm. Other participants in this round include Coinbase Ventures, market makers Wintermute and GSR. Sources familiar with the matter said the financing values Ostium at approximately $250 million. The company had previously raised around $8 million in total.
Ostium was founded in 2022 by co-founders and CEO Kaledora Kiernan-Linn and Marco Antonio Ribeiro. Unlike protocols such as Hyperliquid that focus on cryptocurrency perpetual contracts, Ostium primarily targets trading of tangible assets like metals and energy, and plans to use the new funds to expand into non-crypto user markets outside the United States. Ostium is a platform specializing in perpetual contract trading, allowing users to trade real-world assets such as stocks, metals, oil, and select cryptocurrencies.
