Kelp DAO, a liquid restaking platform, has completed a private funding round, amassing $9 million to propel its growth in the decentralized finance ( defi) sector. The funding aims to enhance the platform’s capabilities and expand into new ecosystems, including Solana and Bitcoin.
Kelp DAO Secures $9 Million in Private Sale to Boost Defi Expansion
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Restaking Protocol Kelp DAO Secures $9 million
Leading the investment round were SCB Limited, a proprietary trading firm based in the Bahamas, and Laser Digital, the digital asset division of Nomura Global, contributing a combined total of $3.5 million. Other notable participants included Cypher Capital, DACM, Draper Dragon, Hypersphere, Bankless Ventures, among others.
The capital will be utilized to broaden Kelp DAO’s technological offerings and market reach, following its achievement of over $850 million in total value locked (TVL) in its protocol and a community of more than 40,000 active restakers. According to the Kelp DAO team, support from these prominent investors highlights the confidence in the DAO’s strategy to innovate within the restaking landscape.
“This fundraise catapults our market expansion efforts and sharpens our focus on delivering customer-centric solutions,” Dheeraj Borra, the co-founder of Kelp DAO stated. “It’s truly exhilarating to see our investors share in that vision.” Kelp’s private fundraising occurs amid a growing demand for restaking, highlighted by major platforms like Eigenlayer, Puffer Finance, and Etherfi.
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