Recently, the liquidity re-pledge platform KelpDAO announced the completion of a $9 million private placement round of financing, which is an important milestone in its efforts to promote the development of decentralized finance (DeFi) and re-pledge.

This round of financing was led by SCB Limited, a Bahamian proprietary trading company, and Laser Digital, a digital asset subsidiary of Nomura Group. The two parties invested a total of US$3.5 million. Bankless Ventures, Hypersphere, Draper Dragon, DACM, Cypher Capital, ArkStream Capital, Cluster Capital, GSR, Longhash, Side Door Ventures, NOIA Capital, HTX Ventures, Avid 3, ViaBTC Capital, DWF Ventures, Coinseeker and other institutions and individuals followed suit.

With over $850 million in total locked value (TVL) and over 40,000 active re-staking users on the KelpDAO platform, the funds raised in this round will be used to enhance platform capabilities, expand to ecosystems such as Solana and BTC, and further innovate re-staking solutions.

This round of financing was supported by many well-known angel investors in the crypto community, including Gitcoin co-founder Scott, Nansen CEO Alex, Frax co-founder Sam K, Aave Chan Initiative's Marc Zeller, Jump Crypto's Saurabh Sharma, Altlayer COO Amrit, Swissborg co-founder Anthony, and Mr. Block's Winslow Strong, demonstrating the strong confidence of global investors in KelpDAO.

Dheeraj Borra, co-founder of Kelp DAO, said: "This financing will drive our further development in the market and enable us to focus more on building 'customer-centric' solutions. It is exciting to see that our investors share the same vision as us." The two founders of KelpDAO, Amitej Gajjala and Dheeraj Borra, unanimously expressed their gratitude for the support of investors and believed that this will drive KelpDAO to new heights in re-staking solutions.

Jez Mohideen, CEO of Laser Digital, added: “We are excited to support KelpDAO and its entrepreneurial team as they build an innovative restaking infrastructure solution.”

The team’s entrepreneurial enthusiasm is also shared by Jack Platts, co-founder of Hypersphere Ventures, who said: “We are excited about the prospect of the re-staking track spawning more developer experiments and use cases. The KelpDAO team has proven their strength, and their strong focus on user experience has played a key role in their early success. We look forward to the team’s vision in improving returns and providing rich options for ETH stakers.”

About KelpDAO

KelpDAO is a liquidity re-staking protocol with over $850 million in assets under management and over 45,000 re-staking users on the platform. The project was the first to launch the Ethereum mainnet liquidity re-staking token (LRT) and use it for re-staking. Currently, Kelp DAO has opened liquidity re-staking for native ETH and LST on the Ethereum mainnet and 8 L2 networks.

About Laser Digital

Founded and backed by Nomura Group, Laser Digital offers a wide range of opportunities in trading, asset management and venture capital. The company is committed to more responsible crypto innovation based on higher standards of risk management, compliance and commercial viability.

About SCB Group Limited

SCB Group Limited is a Bahamas-based proprietary trading company and an active participant in the digital asset ecosystem, and SCB’s support will be a key factor in driving the growth and success of the KelpDAO protocol.