The Good Tech Companies - Kelp DAO Secures $9 Million In Private Sale For Restaking Innovations

Episode Date: May 22, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/kelp-dao-secures-$9-million-in-private-sale-for-restaking-innovations. Kelp’s proven team and focus on user experience is playing a key role in this restaking’s early success. We look forward to the team executing on its vision of Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #kelpdao, #chainwire, #press-release, #kelpdao-announcement, #crypto-funding, #dao, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Kelp DAO, a liquid restaking platform, announced the closure of a $9 million private sale round. Other investors in the round were Bankless Ventures, Hypersphere, Draper Dragon, DACM, ArkStream, Cluster Capital, GSR, Longhash, Side Door Ventures, NOIA Capital.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. KelpDAO secures $9 million in private sale for restaking innovations. By Chainwire. Dubai, UAE, May 22, 2024, Chainwire, asterisk asterisk KelpDAO. A liquid restaking platform, today announced the closure of a $9 million private sale round, a milestone in its mission to enhance decentralized finance, DeFi, and THE restaking landscape. SCB Limited, a proprietary trading firm based in the Bahamas, and Laser Digital, digital asset arm of Nomura Global, led the round with a combined $3.5 million investment. Other investors in the round were Bankless Ventures, Hypersphere, Draper Dragon, DACM, Cipher Capital, ArcStream, Cluster Capital, GSR, LongHash,

SideDoor Ventures, Noya Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, CoinSeeker and many others. These funds build on more than $850 million in total value locked, TVL, and more than 40,000 active restakers on the platform. The funds will be utilized to enhance the platform's capabilities, expand to other ecosystems like Solana and Bitcoin, and further innovate restaking solutions. The funding round showcases confidence from global investors, with support from several notable angel investors in the crypto community, including Scott, co-founder of Gitcoin, Alex, CEO Nansen, Sam Kay, co-founder Frex,

Mark Zeller, Aave Chan Initiative, Saurabh Sharma, Jump Crypto, Amrit, COO Altlayer, Anthony, co-founder of Swissborg, Winslow Strong, Mr. Block, greater than Dheeraj Bora, co-founder of KelpDAO, said, This fundraise propels our greater than expansion in the market and sharpens our focus on building customer-centric greater than solutions. It's truly thrilling to have our investors share that vision. Both KelpDAO founders, Amitai Gajala and Dheeraj Bora, expressed gratitude for the support of investors to drive KelpDAO towards scaling new heights in restaking solutions. Jez Moheddin, greater than CEO of Laser Digital, added their support for the project, stating, We are greater than very excited to support KelpDAO and the passionate team in its journey

greater than towards building innovative restaking infrastructure solutions. This enthusiasm was reiterated by Jack Platts, co-founder of Hypersphere Ventures, saying, We're excited by the prospect of restaking enabling more developer experimentation and use cases. Kelp's proven team and focus on user experience is playing a key role in this restaking's early success. We look forward to the team executing on its vision of enhancing yields and optionality for ETH stakers. About KelpDAO. KelpDAO is one of the leading liquid restaking protocols with $850 million plus in assets under management across 45,000 plus restakers. Their liquid restaked token, LRT, was the first to hit the Ethereum mainnet and

pioneered liquid restaking with liquids taking tokens. Currently, KelpDAO facilitates liquid restaking for native ET hand LSTs alike across Ethereum mainnet and 8L2 networks. About LaserDigital. Backed by Nomura, LaserDigital delivers scalable, robust opportunities across trading, asset management, and ventures. The team works at higher risk management standards, compliance, and commercial viability, all driven by a belief in more responsible crypto innovation. For more information, please visit http://www.laserdigital.com about SCB Limited. SCB Limited is a Bahamian-based proprietary

trading firm and an active participant in the digital asset ecosystem. Contact Head of Communications Archana Barchana at kelpdao.zi. Tip This story was distributed as a release by ChainerWire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.