Electric Capital co-leads seed round for INIT Capital, raising $3.1m.
INIT Capital, a liquidity provider for decentralized finance (defi), recently announced that it has secured over $3 million from investors to strengthen its partnerships with decentralized exchanges and applications. The funding round, which was co-led by Electric Capital and Mirana Ventures, also saw participation from investors like Maelstrom.fund, Robot Ventures, and Nomad Capital, including backing from Guy Young, founder of Ethena, and Julian Koh, founder of Aevo.
The funding will not only support INIT Capital’s technological progress and market strategy but also enable it to create a more accessible liquidity ecosystem in the defi space. In addition to the funding, the company revealed its ongoing efforts to collaborate with various decentralized exchanges and protocols. However, the specific partners involved have not been disclosed at this time.
INIT Capital aims to address the issue of liquidity fragmentation in the defi landscape. While the defi industry continues to evolve to cater to different borrowing use cases, the architecture of money markets has not kept pace with these changes.
By securing this funding, INIT Capital is poised to enhance its operations and expand its partnerships, ultimately contributing to the development of a more robust and efficient defi ecosystem.
