DeFi platform Elixir secures $7.5M in hack VC-led series a funding

Decentralized Finance (DeFi) platform Elixir has successfully garnered $7.5 million in a Series A funding round steered by Hack Venture Capital.

As announced by Elixir on their X, the significant investment has inflated Elixir’s valuation to an impressive $100 million.

We're excited to announce Elixir’s $7.5M Series A fundraise led by @hack_vc, at a $100M valuation

We look forward to revolutionizing orderbook liquidity through Elixir’s dPoS networkhttps://t.co/nmoL3QEjbm

— Elixir (@ElixirProtocol) October 18, 2023

Key investors in the Series A round included AngelList Ventures, NGC Ventures, Bloccelerate, Hudson River Trading, Genesis Trading, and angels from Ledger Prime.

This newly acquired capital will be used to expand the Elixir team and expedite the development of infrastructures, including order book liquidity on exchanges.

Previously in the year, Elixir secured $2.1 million in seed funding, led by Falcon X and Chapter One, with involvement from BitMex co-founder Arthur Hayes.

Elixir, with its innovative liquidity provisioning, has transformed funds through decentralized and algorithmic market-making protocols. Its trustless algorithmic model encourages widespread participation in supplying liquidity for exchange pairs on both decentralized and centralized platforms.

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