VC Fund Investments
Elevation Capital-backed crypto exchange Brine Fi attracts $16.5 M Series A
Bangalore-based decentralised crypto exchange (DEX) Brine Fi has raised USD 16.5 million in its Series A funding round, led by Pantera Capital, at a valuation of USD 100 million. The round also saw participation from Elevation Capital, Starkware, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures and angel investors. Founded in 2021 by Shaaran Lakshminarayanan, Ritumbhara Bhatnagar and Bhavesh Praveen, Brine Fi is targeted at institutions and high-frequency traders. It claims to make it easy for institutions, centralised exchanges, HFT traders and retail users to reduce their counterparty risk and at the same time get the best price for their orders in the industry. The firm processes monthly volumes of USD 300 million.
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