Veda Raises $18M to Expand DeFi Vaults Across Chains and Eye Centralized Exchange Partnership

Veda, a decentralized finance (DeFi) vault infrastructure provider, has raised $18 million in a funding round led by CoinFund. The startup plans to use the capital to accelerate its partnerships and infrastructure growth. Veda's BoringVault framework has over 100,000 users and $3.7 billion in total value locked (TVL). The company aims to simplify DeFi access for institutional and consumer applications while maintaining self-custody and security standards.

Veda, a decentralized finance (DeFi) vault infrastructure provider, has secured $18 million in a funding round led by CoinFund. The startup aims to use the capital to accelerate its partnerships and infrastructure growth. Veda's BoringVault framework has over 100,000 users and $3.7 billion in total value locked (TVL).

The funding round included support from several prominent investors, including Coinbase Ventures, GSR, Animoca Ventures, BitGo, and other major crypto investors. CoinFund led the funding, with participation from Coinbase Ventures, GSR, Maelstrom, Animoca Ventures, Mantle EcoFund, BitGo, Credibly Neutral, Draper Dragon, Heartcore, PEER VC, and Relayer Capital. Individual backers include Anchorage CEO Nathan McCauley, Ether.Fi CEO Mike Silagadze, and Polygon MATIC/USD COO Sandeep Nailwal [1].

Veda's platform enables financial applications to offer DeFi yields without exposing users to operational complexities. The startup plans to deepen its partnerships and accelerate the next wave of DeFi adoption across established financial platforms. Veda's co-founder and CEO, Sun Raghupathi, stated, "The best infrastructure is invisible — it just works. We enable any platform to offer on-chain yield without exposing the complexity of DeFi, while preserving what makes it powerful: self-custody, transparency, and control" [1].

The funding will also facilitate the announcement of a partnership with a top-five global centralized exchange in the coming month. CoinFund's Head of Venture Investments, David Pakman, noted, "Veda solves an unmet and growing need in the DeFi ecosystem—as more wealth comes on chain, infrastructure for the on-chain equivalent of traditional 'funds' must exist, and Veda is the leader in providing these vaults" [1].

Veda's BoringVault framework has positioned itself as a vault platform that simplifies DeFi access for both institutional and consumer applications while maintaining self-custody and security standards. Since its inception, Veda claims to have positioned itself as a vault platform that aims to simplify DeFi access for both institutional and consumer applications while maintaining self-custody and security standards [1].

Veda was founded in early 2024 by CEO Sun Raghupathi, CTO Joe Terrigno, and COO Stephanie Vaughan, bringing a wealth of experience from previous ventures. The company has over $3.7 billion in Total-Value Locked (TVL) to date, over 100,000 depositors, and plans to partner with a top five global centralized exchange in the next month [2].

References:

[1] https://www.benzinga.com/crypto/cryptocurrency/25/06/46051809/veda-secures-18m-to-scale-defi-vaults-across-chains-eyes-centralized-exchange-partnership

[2] https://www.prnewswire.com/news-releases/veda-raises-18m-led-by-coinfund-to-bring-institutional-grade-defi-yield-to-consumer-apps-through-3-7b-vault-platform-302488185.html