The liquid restaking platform Kelp DAO has reached a significant milestone in its quest to improve the restaking landscape and decentralized finance (DeFi) by announcing the closing of a $9 million private sale round.
The round was spearheaded by a $3.5 million investment from SCB Limited, a Bahamas-based proprietary trading business, and Laser Digital, the digital asset branch of Nomura Global. Participating investors included a long list of prominent names including Bankless Ventures, Hypersphere, Draper Dragon, DACM, Cypher Capital, ArkStream, Cluster Capital, GSR, Longhash, Side Door Ventures, NOIA Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, Coinseeker, and several more.
These investments add to the over $850 million in TVL and the over 40,000 active restakers already on the platform. The funding will be used to improve the platform, increase innovation in restaking solutions, and extend to new ecosystems such as Solana and Bitcoin.
Contributors to the funding round include prominent figures from the cryptocurrency community, such as Scott, Cofounder of Gitcoin; Alex, CEO Nansen; Sam K, Cofounder Frax; Marc Zeller, Aave Chan Initiative; Saurabh Sharma, Jump Crypto; Amrit, COO Altlayer; Anthony, Cofounder of Swissborg; Winslow Strong, Mr. Block.
Dheeraj Borra, Co-founder of Kelp DAO, said:
“This fundraise propels our expansion in the market and sharpens our focus on building customer centric solutions. It’s truly thrilling to have our investors share that vision.”
Amitej Gajjala and Dheeraj Borra, co-founders of Kelp DAO, have both thanked investors for their help in propelling the company to new heights in the restaking solutions industry.
Jez Mohideen, CEO of Laser Digital, added their support for the project, stating:
“We are very excited to support Kelp DAO and the passionate team in its journey 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.”
