Odaily Frontline | Framework Labs completes $8 million in seed round financing and will be deeply involved in the DeFi protocol

Odaily资深作者

2020-08-28 09:01 (UTC+8)

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Framework Labs was spun off from Framework Ventures, which is the largest token holder in the Synthetix protocol other than the founding team, and is also Chainlink's early major investment institution and node operator.

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, by Rory Murray

Odaily Translator |

Framework Ventures, a DeFi-focused venture capital firm, announced Thursday that its sister company, Framework Labs, has raised an $8 million seed round led by Station 13.

In the past month, the primary market in the DeFi field has continued to be active. Uniswap announced on August 6 that it had completed its Series A financing of US$11 million; 1inch raised US$2.8 million in its seed round five days later; last night, Polkadot’s DeFi platform Acala announced the completion of US$7 million in financing; also last night, DeFi asset management platform Zapper also announced the completion of a $1.5 million seed round of financing, led by Framework Ventures.

Framework Labs was spun out of Framework Ventures, which was co-founded in 2019 by Michael Anderson and Vance Spencer. Although it has not been established for a long time, the investment institution is currently the largest token holder in the Synthetix protocol other than the founding team, and is also the main liquidity provider on Unwiswap, as well as Chainlink’s early main investment institution and node operator business. With the skyrocketing DeFi tokens this year, Framework Ventures has also become famous.

Framework Labs will go forward as the technical arm of Framework Ventures, focusing on the protocols and networks the firm has invested in to date, including Synthetix and Chainlink. Announced alongside the funding news is the leadership of Framework Labs, with Ray Pulver, co-founder and former CTO of decentralized exchange IDEX, and Roy Learner, former head of Wavemaker Partners, joining the company.