March 26, 2024
Automated Liquidity Exchange (ALEX), a firm developing Bitcoin's decentralized finance (DeFi) layer, has raised $10 million in a strategic funding round led by Spartan Capital. The funding round included participation from CMS Holdings, DACM, DWF Labs, Foresight Ventures, G-20 Group, Ouroboros Capital, Summer Capital, Cultur3 Capital, and EVG, among others. ALEX's board of directors remains unchanged following the round.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
ALEX | Mar 26 2024 | $10M | Series A | $18.3M | DeFi |
ALEX leverages Layer 2s, bridges, oracles, and other infrastructure to create a Bitcoin-specific DeFi layer. This technology allows for more efficient and secure financial transactions on the Bitcoin network. By using these advanced infrastructures, ALEX aims to provide decentralized financial services tailored to the Bitcoin ecosystem.
The fresh funding will support ALEX in several key areas. The company plans to expand its team, focusing on bringing in additional talent to enhance its development and operational capabilities. ALEX will also work on improving its platform's user interface and user experience (UI/UX) to make it more accessible and user-friendly for a broader audience. Additionally, the company aims to strengthen its business development strategies to expand its market presence and foster partnerships within the blockchain and financial sectors.
ALEX's finance layer is built on Stacks, a Bitcoin network Layer 2. Stacks enables smart contracts and decentralized applications to use Bitcoin as a base layer, benefiting from Bitcoin's security while adding new functionalities. ALEX utilizes this technology to provide decentralized financial services that are specific to the Bitcoin ecosystem.
About ALEX
ALEX is an open-source DeFi development business based on the Stacks Blockchain and inspired by financial markets worldwide. The company focuses on creating a decentralized finance layer specific to Bitcoin, leveraging advanced infrastructure to provide efficient and secure financial services.
Website: https://alexgo.io/
X Account: https://x.com/ALEXLabBTC
X Followers today: 105,269
X Followers 30 days ago: 101,662
X Follower change: 3,607 (+3.55%)
About Investor
Investor: Spartan Capital Securities
Spartan Capital Securities is a venture capital firm that invests in blockchain and cryptocurrency projects. The firm supports the development of technologies that will enhance the financial system's efficiency and security.
Location: United States
Website: https://spartancapital.com/
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