Valantis Labs Raises $7.5M, Valued at $40M, to Advance Modular DEX Protocol
Nov 20, 2024
#Fundraising
Valantis Labs, the developer of the modular decentralized exchange (DEX) protocol Valantis, has raised $7.5 million in pre-seed and seed funding rounds. The pre-seed round, valued at $3.5 million, occurred in April 2023, while the $4 million seed round closed in September 2024, doubling Valantis's valuation to $40 million. Key investors include Cyber Fund, Kraken Ventures, and SevenX Ventures. Valantis, initially a project at Nethermind, offers a modular framework for building DEXs, allowing for more composable and flexible modules compared to Uniswap V4's hooks. The first modular DEX, HOT-AMM, launched in June, has facilitated over $50 million in trading volume. Valantis Labs plans to expand its team slightly while maintaining a lean structure.