Kelp DAO, a platform that specializes in liquid restaking, has successfully concluded a private funding round, securing $9 million to fuel its expansion in the decentralized finance (defi) sector. The funding will be utilized to enhance the platform’s capabilities and venture into new ecosystems such as Solana and Bitcoin.
The investment round was led by SCB Limited, a proprietary trading firm based in the Bahamas, and Laser Digital, the digital asset division of Nomura Global, who together contributed a total of $3.5 million. Other notable participants included Cypher Capital, DACM, Draper Dragon, Hypersphere, and Bankless Ventures.
The capital raised will be used to expand Kelp DAO’s technological offerings and increase its market reach. This follows the platform’s impressive achievement of over $850 million in total value locked (TVL) in its protocol and a thriving community of more than 40,000 active restakers. The support from these prominent investors reflects their confidence in Kelp DAO’s strategy to drive innovation in the restaking landscape.
Dheeraj Borra, the co-founder of Kelp DAO, expressed his excitement about the successful fundraising, stating, “This fundraise propels our market expansion efforts and strengthens our focus on providing customer-centric solutions. It’s truly thrilling to see our investors share our vision.” The private fundraising by Kelp DAO comes at a time of increasing demand for restaking, as evidenced by the growing popularity of major platforms like Eigenlayer, Puffer Finance, and Etherfi.
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