DeFi vault platform Veda just raised $18 million. CoinFund exclusively led this Series A round. Many major investors joined. Coinbase Ventures also participated.
GSR, Maelstrom, and Animoca Ventures also invested. Mantle EcoFund, BitGo, and Credibly Neutral backed Veda. Draper Dragon, Heartcore, PEER VC, and Relayer Capital contributed. Angel investors added support. Anchorage CEO Nathan McCauley invested.
EtherFi co-founder Mike Silagadze joined. Polygon co-founder Sandeep Nailwal also participated. Veda closed the round in May. CEO Sun Raghupathi confirmed the close. He did not share the company’s valuation.
Fueling Platform Expansion
Veda will deploy these new funds strategically. They will broaden strategy options. This includes accessing on-chain yields. Off-chain yield sources are also targeted. Veda plans enhanced enterprise services. The platform will scale its capabilities. This better supports developers. Raghupathi detailed these plans.
Demystifying Decentralized Finance
Veda addresses key DeFi challenges. Decentralized finance promises freedom. It offers low-risk financial options. Yet, DeFi remains too complex for users. It also lacks scalable infrastructure. Multichain adoption faces hurdles. Mainstream audiences need simpler apps. Veda aims to simplify DeFi. It will preserve self-custody. Transparency and security remain core.
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Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/veda-secures-18m-coinfund-leads-defi-vault-funding/