Radix Tokens (Jersey), an asset-based smart contract issuance company, has raised $10 million in new funding. The investment gives the Radix platform a valuation of $400 million and was made in a private equity round led by DWF Labs.
Radix Raises $10M in Private Funding Round Led by DWF Labs
After receiving additional funds, Radix’s efforts to develop its powerful DeFi ecosystem have been stepped up. The investment comes at a critical time for Radix as it prepares to launch its Babylon mainnet, which will be the first to support smart contracts.
DWF Labs, the lead investor in the $10 million round, is a leading international provider of market making and multi-level Web3 investments. It has offices in Hong Kong, South Korea, British Virgin Islands, Singapore, Switzerland and the United Arab Emirates. Unnamed blockchain venture capitalists and angel investors have completed a private round.
“It is fantastic to have the DWF Labs team focused on the coming Radix ecosystem and lending their expertise and capital to the launch of the coming Radiх mainnet, Babylon” – Andy Jarrett, Director, Radiх Tokens (Jersey) Ltd.
“We are thrilled to lead the $10 million funding round for Radiх Tokens (Jersey) and support their vision of building out a high throughput DeFi ecosystem. We are excited to bring our expertise and capital to the launch of the coming Radiх mainnet and see great potential in the more than 50 projects currently building on Radix. We look forward to seeing Radiх’s continued success in the asset-oriented smart contract space.” – Andrei Grachev, Managing Partner of DWF Labs.
More than 50 projects are actively developed on Radiх, including dApps for wallets, credits, loans, games, and NFTs. Radiх now also has a grants program. The six teams selected for the program will receive funding as well as guidance and support from the teams.
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