• Mon. Dec 11th, 2023

Balancer Receives Huge Support and Backing from Venture Capitals, Raised $24.2 Million



May 29, 2021

At present, there is no doubt when admitting that the overall cryptocurrency industry has experienced a huge surge since the start of 2021. Although the overall crypto-verse is experiencing a slight downfall since the last three weeks, it has remained fairly bullish throughout the year.

Even now, the cryptocurrency investment community is confident about the potential and bullish nature of the entire cryptocurrency industry. The sentiments of the majority of cryptocurrency users and investors are high in terms of the overall bullish nature of the crypto-verse.

Over time, the cryptocurrency industry has turned out to be extremely lucrative and technologically advanced. This is what has given great confidence to the cryptocurrency startups and other firms to venture into the crypto-verse.

Therefore, several crypto-startups have started launching funding rounds in order to generate funds for their projects. Astonishingly, the cryptocurrency industry has gathered so much prominence that each funding round launched by a crypto-startup concludes successfully.

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Just recently, a firm named Balancer went ahead and launched a funding round. The motive behind the launch of Balancer is to make it a leading firm in the decentralized finance (DeFi) industry that provides liquidity.

The firm has reported that the funding round it launched has concluded successfully. According to Balancer, it received the support of several venture capital firms that led the project and made it a success.

Some of the most prominent venture capital firms include Continue Capital, Fenbushi Capital, LongHash Ventures, Fintech Collective, and Blockchain Capital. The funding round was also backed by Synthetix’s founder, Kain Warwick, which is a decentralized finance (DeFi) protocol.

The balancer has confirmed that through the funding round, it has managed to generate $24.2 billion. It will be using these funds to strengthen its presence in the decentralized finance (DeFi) industry. The company will be able to achieve its target of becoming the core provider of the decentralized infrastructure in the decentralized finance (DeFi) market.

The firm is set to play a key role in the automated market maker (AMM) space. It aims to uniquely place itself in the decentralized finance market as DeFi protocols’ core infrastructure component. The firm is set to provide users with unique and highly reliable applications in the decentralized finance (DeFi) space.

One of the top investors at Blockchain Capital, Aleks Larsen has talked about the potential of Balancer. He stated that the successful funding round carried out by Balancer is the demonstration of how much the VCs trust in the potential of the protocol.

The venture capital firms are confident that Balancer would do justice to its claims and would eventually emerge as the core infrastructure provider in the decentralized finance (DeFi) industry.

Prior to the recent funding round, Balancer had carried out a funding round back in November that brought in $5 million for the protocol.


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