April 10, 2024
Zoth, a Singapore-based startup, has raised $2.5 million in a seed funding round. This round was led by Blockchain Founders Fund and included participation from Borderless Capital, Mindfulness Capital, YAP Capital, Momentum6, Singularity DAO, Aztlan Capital, Outlier Ventures, Decubate, Wormhole Ecosystem Fund, and notable angels from Huma Finance and Circle.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Zoth | $2.5 M | Apr 10, 2024 | Seed | $5.1 M | Blockchain Founders Fund | RWA |
The funds will support Zoth's mission of providing sustainable yields backed by real-world assets (RWAs) and building a multichain stablecoin-powered RWA ecosystem. This funding is crucial for Zoth as it aims to enhance the DeFi landscape by introducing native sustainable yield mechanisms. The funding will be used to accelerate platform development, expand the user base, and improve the profitability and efficiency of user asset management.
Zoth is dedicated to creating a platform that enables secure, sustainable yield generation by leveraging RWAs. This involves the tokenization of real-world assets, such as real estate or private equity, into digital tokens on a blockchain, which can then be traded and managed securely. The company's platform, ZOTH-FI, is already live on multiple blockchains, including Ethereum, Polygon, XDC Network, Metis, Boba, and Celo, allowing users to earn RWA-backed yields by staking stablecoins.
The strategic partnership with the XDC Network blockchain aims to boost efficiency and transparency in handling RWAs, aligning with Zoth’s goal of providing a comprehensive platform for enterprises to tokenize real-world assets. Past investors in the project include SOSV (Orbit Startups) and Graviton Web3 Accelerator, highlighting strong support from the blockchain and crypto communities.
Zoth's ecosystem includes regulated infrastructure to drive innovative products, such as Money Market Funds backed by secure assets like Treasury Bills, Sovereign Bonds, and Commercial Papers issued by AAA-rated companies. This initiative is part of Zoth's broader strategy to introduce more regulated products, thereby enhancing the stability and reliability of yields in the DeFi space.
The company was founded by Pritam Dutta and Koushik Bharghav and has attracted backing from notable Indian angel investors like Kunal Shah. The funding round underscores the growing confidence in Zoth's vision to revolutionize the DeFi landscape by providing sustainable yields backed by real-world assets.
About Zoth
Zoth is an ecosystem focused on bridging liquidity between Traditional Finance (TradFi) and OnchainFi. The company provides sustainable yields backed by real-world assets and aims to build a multichain stablecoin-powered RWA ecosystem. Founded by Pritam Dutta and Koushik Bharghav, Zoth leverages blockchain technology to offer secure, efficient, and profitable asset management solutions.
Website: https://zoth.io/
X Account: @zothdotio
X Followers today: 125.8k
About Investor
Investor: Blockchain Founders Fund
Description: Blockchain Founders Fund is a venture capital firm that invests in and supports emerging blockchain startups. The fund provides strategic support to its portfolio companies to help them scale and achieve their business objectives. With a strong track record in the blockchain space, Blockchain Founders Fund has been instrumental in fostering innovation and growth within the industry.
Location: United States
Website: https://blockchainff.com
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