November 14, 2024
Torram, a Toronto-based developer of institutional-grade decentralized finance (DeFi) solutions on Bitcoin, has secured strategic investment led by Draper Associates. The funding round also saw participation from Boost VC and Thesis. Torram was selected from over 200 applicants to join the inaugural BitcoinFi Accelerator, an exclusive six-week program designed to advance Bitcoin-native applications. The company’s mission is to establish a foundational infrastructure that bridges traditional finance with Bitcoin’s blockchain, addressing the rising demand for secure, scalable DeFi solutions.
This investment comes as institutional interest in Bitcoin’s decentralized capabilities continues to grow, with the global DeFi market projected to reach $50 billion by 2025. Torram’s platform offers solutions for banks, asset managers, and financial institutions, enabling them to leverage Bitcoin’s $880 billion market cap. Its core technology includes a decentralized oracle network, advanced on-chain data indexing for real-time analytics, and a cross-chain infrastructure designed for integration with existing financial systems. Torram plans to launch its testnet in 2025, with early access available exclusively to qualified institutions and partners.
Torram’s inclusion in the BitcoinFi Accelerator is a testament to its innovation and potential. Backed by leading Bitcoin investors, the accelerator provides $150,000 in initial funding, technical resources, and strategic partnerships essential for scaling operations. Torram also benefited from participation in Bitcoin Startup Labs’ pre-accelerator program, where it emerged as one of the standout performers. CEO Vakeesan Mahalingam emphasized that support from Draper Associates and other investors validates Torram’s approach to bringing institutional DeFi solutions to Bitcoin.
About Torram
Torram is a Toronto-based company developing infrastructure for institutional-grade DeFi and real-world asset tokenization on Bitcoin. Its platform empowers financial institutions to integrate Bitcoin’s security, transparency, and liquidity into their operations. Torram’s offerings include a decentralized oracle network, on-chain data indexing, and compliance-driven security frameworks tailored to institutional needs.
Website: https://torram.xyz/
X: @Torram_xyz
About Investor
Draper Associates
Draper Associates, founded by venture capitalist Tim Draper, is a Silicon Valley-based firm specializing in early-stage investments. The firm is renowned for its contributions to the blockchain ecosystem, supporting projects like Coinbase, Kraken, and OpenSea. Draper Associates focuses on transformative technologies that drive innovation across industries.
Location: Silicon Valley, California
Website: https://www.draper.vc/
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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