June 20, 2024
Ordinox Labs, a Cosmos-based Automated Market Maker (AMM) chain, has successfully secured $1 million in a pre-seed funding round. The round was led by DACM and saw participation from CMS Holdings, UTXO Management, Plassa Capital, Outlier Ventures, Sats Ventures, STS Digital, Hidden Street Capital, and a group of angel investors.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Ordinox | $1M | June 20, 2024 | Pre-Seed | DACM | DeFi |
The angel investors include Tycho Onnasch from Zest Protocol, domo from Layer 1 Foundation, Nicolas Pinto from Cygni Labs, FarmerJoe, a BTC Angel, and *arim Halabi from NGMI Labs.
Ordinox Labs is on a mission to democratize Decentralized Finance (DeFi) on Bitcoin. The successful pre-seed funding round will enable the company to continue its mission and expand its operations. Ordinox facilitates secure trades of BRC20s and Runes using Thorchain's proven model. It offers 5-second finality across multi-chain pools like USDT <> BRC20/Runes, without the need for bridges, wrapped assets, or gas tokens.
About Ordinox
Ordinox Labs is a privately held company based in India. It operates in the Financial Software industry and is backed by an accelerator/incubator. The company was founded by Ankit Sethi.
Ordinox is a native cross-chain swapping infrastructure. It focuses on bringing Ethereum Virtual Machine’s (EVM) DeFi liquidity to Ordinal Inscription-based tokens like BRC20. This infrastructure allows token holders to earn yield while enabling a direct non-custodial swap between ER20 and Ordinal tokens. This is achieved without the need for wrapping or tunneling
Website: https://ordinox.xyz/
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About Investor
Investor: DACM
Digital Asset Capital Management (DACM) is a global investment manager specializing in the digital asset or cryptocurrency sector. Established in 2017, DACM is a global institutional investor 100% focused on the digital asset sector.
DACM offers a range of funds, including the Digital Asset Fund, DACM Liquid Venture Fund, DACM Market Neutral Fund, and DACM Global Digital Asset Fund (Australia). Each fund has its unique focus and strategy, providing investors with various opportunities to invest in the rapidly evolving digital asset sector.
Location: British Virgin Islands
Website/s: https://www.dacm.io/
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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