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Veda Raises $18 Million Led by CoinFund to Bring Institutional-Grade DeFi Yield to Consumer Apps Through $3.7 Billion+ Vault Platform
- Veda, a DeFi vault platform, raised $18 million in funding led by CoinFund with participation from various other investors and angel investors.
- The platform aims to bring DeFi to consumer and institutional audiences by simplifying its complexity and managing risk on behalf of users while preserving self-custody, transparency, and security.
- Veda provides a universal vault infrastructure platform that abstracts away DeFi complexities, allowing for a seamless user experience for transacting through vaults.
- The platform has a BoringVault framework, the most used vault standard in DeFi, which has garnered over 100,000 users since its launch.
- Veda's vault standard powers yield strategies across various segments, including yield vaults, liquid restaking tokens, native yield for chains, pre-deposit campaigns, and wallets.
- The platform has over $3.7 billion in Total-Value Locked (TVL) and plans to partner with a top five global centralized exchange in the near future.
- Veda was founded in early 2024 and is led by CEO Sun Raghupathi, CTO Joe Terrigno, and COO Stephanie Vaughan, with a focus on providing essential infrastructure for the future of financial markets.
- David Pakman from CoinFund expressed confidence in Veda's potential to meet the growing need for on-chain wealth management and the foundational infrastructure it provides for the future of financial markets.
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