TechFlow reports that restaking protocol Helix Labs has announced raising a $2 million Pre-Seed round at a $40 million valuation, with participation from prominent investors including Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
According to the announcement, Helix Labs provides yield opportunities for non-ETH L1 asset holders through restaking, while supporting the development of MoveVM rollups. The technology is expected to unlock approximately $12 billion in liquidity for the Cardano ecosystem, enabling ADA holders to stake and obtain liquid-staked ADA simultaneously, as well as bridge their assets to Movement.
In addition, Helix Labs has announced its participation in Movement Labs' Move Collective accelerator program.
