Veda Secures $18M to Enhance DeFi Infrastructure
Veda, a DeFi vault platform, has raised $18 million in a funding round led by CoinFund and joined by others such as Coinbase Ventures and GSR. Notable angel investors like Nathan McCauley and Sandeep Nailwal also contributed. The funds will help Veda expand its DeFi services by integrating both onchain and offchain yield sources, enhancing enterprise capabilities, and supporting developers. Veda's goal is to simplify DeFi use while preserving its core benefits. Their flagship product, 'BoringVault,' is a smart contract vault designed to offer transparent and flexible DeFi infrastructure. Since its launch in March 2024, Veda has attracted over $3.7 billion in value and allied with platforms like Binance Wallet. They plan to collaborate with a leading centralized exchange soon.
FAQ
❓ Who led the recent funding round for Veda?
CoinFund led the recent funding round, raising $18 million for Veda.
❓ What is Veda's main product?
Veda's main product is the BoringVault framework, a smart contract vault facilitating DeFi transactions.
❓ How does Veda plan to use the new funds?
Veda will use the funds to expand DeFi services, enhance platform capabilities, and support developers.