September 24, 2024
Helix Labs, based in Road Town, British Virgin Islands, has secured $2 million in Pre-Seed funding to support its protocol for an AltVM future through restaking beyond ETH. The funding round was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Helix Labs | $2M | September 24, 2024 | Pre-Seed Round | Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group. | DeFi, Restaking |
The company plans to use the funds to enhance its operations and development efforts. Under the leadership of CEO Sneh Bhatt, Helix Labs is developing a protocol that optimizes yield opportunities for non-ETH L1 asset holders through restaking and supports an OmniVM rollup future via liquidity abstraction. Additionally, Helix Labs has joined Movement Labs’ Move Collective accelerator program, which will provide resources and support for their ongoing blockchain innovations.
About Helix Labs
Helix Labs is an innovative protocol that focuses on maximizing yield opportunities for non-ETH Layer 1 asset holders through a process called restaking. They aim to enhance the utility of tokens and provide liquidity services to emerging Layer 3 ecosystems. Recently, Helix Labs raised $2 million in pre-seed funding to unlock $12 billion in liquidity for Cardano’s ADA, allowing ADA holders to stake their assets while still having access to liquid staked ADA. This development opens up new decentralized finance (DeFi) opportunities for Cardano users.
Website: https://www.helixlabs.org/
About Investor
The funding round was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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