DeFi startup Polytrade attracts $3.8 M from Alpha Wave, Matrix, others

Polytrade, a Dubai- and India-based web3 lending firm that aims to streamline global trade supply chains using blockchain, has raised USD 3.8 million in a seed funding round led by Alpha Wave Global, Matrix Partners India, Polygon Ventures and CoinSwitch Ventures. Polytrade operates in the decentralized finance (DeFi) space. It will use the funds raised to grow its product suite, concentrate on marketing, and enter other markets in Latin America and Europe.