VC Fund Investments
Blockchain-based DeFi co Instadapp raises $10-M from Standard Crypto, others
Decentralised finance (DeFi) startup Instadapp has raised USD 10 million from venture capital firm Standard Crypto, and strategic partners, including Yearn founder Andre Cronje, DeFi Alliance and Longhash Ventures. The firm offers a protocol that simplifies how users interact with various DeFi protocols. DeFi is a blockchain-based form of finance that does not have central financial intermediaries. Instadapp will launch its governance token INST by June-end, a part of which will go to investors. The company has raised a seed round in 2019 from entrepreneur investors Naval Ravikant and Balaji Srinivasan, crypto-focused hedge fund Pantera Capital and crypto exchange Coinbase. The latest round, which is in lieu of Instadapp's soon-to-be-launched tokens, brings the total funds raised to USD 12.4 million.
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