Veda Raises $18M to Expand DeFi Vault Infrastructure Powering Over $3.7B in Assets

Veda, a decentralized finance (DeFi) infrastructure firm, said it raised $18 million in a round led by CoinFund to support its platform, which enables apps and institutions to offer simplified crypto yield products. The startup’s main product is a modular vault framework that lets developers create smart contracts to manage yield strategies without exposing users to the complexity of DeFi, the firm said. The vaults, built on Veda’s BoringVault standard, support a range of applications including restaking tokens, yield-bearing stablecoins and on-chain savings accounts. Veda says it has processed deposits from more than 100,000 users across a growing network of DeFi protocols and fintech platforms since its debut in March 2024. These include products such as ether.fi’s eBTC and weETHs, Plasma’s Vault, and pre-deposit campaigns for Berachain and TAC. Wallets like Binance Wallet and Bybit Web3 are also integrating the infrastructure. Veda already oversees over $3.7 billion in total value locked and plans to partner with a top-five centralized crypto exchange in the near future, it added. The raise also saw participation from Coinbase Ventures, Animoca Ventures, GSR, Mantle EcoFund, BitGo, and Draper Dragon among others.

Source: CoinDesk