TechFlow News — Siphon Lab, a DeFi crypto startup in the Sui ecosystem, has announced the successful completion of a $1.2 million seed funding round led by Kima Ventures. The round also saw participation from Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, Mava Ventures, and a group of angel investors from both Web3 and Web2 sectors. The newly raised funds will be used to scale operations, grow the team, and accelerate development.
Siphon Lab is currently building the "Siphon Universe" on the Sui network, with products including Tradeify and Liquidify—liquid staking protocols designed to maximize capital efficiency for SUI across the ecosystem.
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