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CDS Startups Siphon Lab Concludes Seed Round Fundraising with $1.2 Million

Startups

Siphon Lab Concludes Seed Round Fundraising with $1.2 Million

Siphon Lab recently completed a successful $1.2 million seed round of funding in advance of its beta launch.

Aziz KARTAL09/05/20231 Mins read608

Siphon Lab Concludes Seed Round Fundraising with $1.2 Million

Siphon Lab, a startup in the field of DeFi, has just raised $1.2 million in seed funding before the launch of its beta platform.

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The funding round included participation from prominent investors in both the web3 and web2 industries, such as Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, and Mava Ventures, as well as other well-known angel investors.

The round was led by Kima Ventures. With the aim of meeting the growing demand for its services, Siphon intends to utilize the seed capital to expand its operations, increase its workforce, and expedite its development.

We are excited to have the support of Kima Ventures and other highly reputable investment firms. Their experience and resources will be valuable as we continue to grow and scale our business to provide financial technology solutions to bring more users to SUI Network. Our team has the skills, experience, and network to create one of the top solutions in the market.
Jeffrey Cato, co-founder and CEO of Siphon Lab

About Siphon Lab

Siphon Lab is currently building the Siphon Universe on the Sui network, which will include Tradeify, Liquidify, and other innovative products that are set to launch soon. The Siphon ecosystem is a component of the Siphon Universe.

Liquidify, the foremost liquid staking protocol developed on the SUI blockchain, is designed to optimize the capital efficiency of SUI across the entire ecosystem. Tradeify, on the other hand, is a decentralized derivative trading protocol that enables zero price impact trading, up to 100x leverage, self-custody, aggregated liquidity, and an enhanced on-chain trading experience.

Liquidify, built on top of the SUI blockchain, is the top liquid staking protocol in the industry, aiming to maximize the capital efficiency of SUI throughout the ecosystem.

To access more startup news and articles: cryptodataspace.com

Sources:zycrypto

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Aziz KARTAL

Aziz Kartal is 21 years old. He is a student at the Gazi University, Department of Electrical and Electronical Engineering. He works as content writer, researcher and social media manager. He generally research about Web3, Blockchain Security and Cybersecurity.

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