May 2, 2024
Mitosis, operating in the decentralized finance (DeFi) space, has successfully closed a $7 million seed funding round. This round was led by Amber Group and Foresight Ventures, with participation from a consortium of other notable investors such as Big Brain Holdings, Folius Ventures, and several others.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Mitosis | May 2, 2024 | $7M | Seed | $7M | Amber Group, Foresight Ventures | DeFi |
Mitosis operates a Layer 1 network and a series of Mitosis Vaults, providing a modular liquidity protocol that aims to revolutionize on-chain asset management. Their Ecosystem-Owned Liquidity (EOL) model introduces a novel approach by empowering liquidity providers (LPs) with decision-making capabilities regarding asset allocation strategies, which are crucial for maximizing returns.
The $7 million seed funding will be directed towards advancing the development of Mitosis's technology, particularly their public testnet set to launch in Q2 2024, with a mainnet launch and Token Generation Event (TGE) expected by the end of the year. Additionally, this capital will support the expansion of liquid restaking tokens (LRT) across multiple blockchains.
Mitosis's EOL model enhances scalability and market efficiency through a governance framework where LPs actively participate. The protocol facilitates the flow of liquidity across different networks via Mitosis Vaults, redefining the DeFi LP experience.
The seed funding round marks a critical milestone for Mitosis, setting the stage for significant advancements in decentralized liquidity management. The involvement of multiple high-profile investors underscores the industry’s confidence in Mitosis's potential to reshape the DeFi landscape.
About Mitosis
Mitosis is dedicated to enhancing the efficiency and functionality of decentralized financial systems through its innovative L1 network and liquidity solutions. The company's focus on modular and governance-driven liquidity management positions it as a pivotal player in the evolving DeFi sector.
Website: https://mitosis.org/
X Account: @MitosisOrg
X Followers today: 132,300
X Followers 30 days ago: 111,545
X Follower change: 20,755 (+18.6%)
About Investor
Investor: Amber AI and Foresight Ventures
Description: Amber AI is a trading firm focusing on cryptocurrencies and derivatives, leveraging advanced quantitative research and technology for trading. They support innovative crypto projects that emphasize technology and market expansion.
Foresight Ventures is a venture capital firm investing in the blockchain and cryptocurrency sectors. It targets early—to growth-stage startups, focusing on projects with potential significant impacts on the blockchain ecosystem, especially in DeFi and fintech solutions.
Location: Global
Website: Amber AI and Foresight Ventures
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.
Comments