Total amount raised
$17.6 Millions
Latest funding date
3/1/2024
Location
Elixir has successfully raised funds through multiple rounds, with its latest being a Series B on March 12, 2024. The company is backed by 30 investors, including notable names like Mysten Labs and Maelstrom.
Keep reading to explore the intricacies of Elixir's fundraising journey and the investors backing this innovative platform.
What Is Elixir?
Elixir, founded in 2022, is a modular DPoS network designed to power orderbook liquidity. Based in New York, the company is secured by over 10,000 validators globally.
Elixir's decentralized protocol enables full composability for integrations, offering computationally secure, algorithmic market-making across both centralized and decentralized exchanges.
Founded by Christopher Gilbert and Philip Forte, Elixir operates with a team of 11-50 employees, driving innovation in the financial technology sector.
How Much Funding Has Elixir Raised?
- Seed Round
- Amount Raised: $2.1M
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Elixir's decentralized network and enhance liquidity across orderbook exchanges.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Elixir's technology and expand its market reach.
- Series A
- Amount Raised: $7.5M
- Date: October 2023
- Lead Investors: Hack VC
- Valuation at Round: $100M
- Motivation Behind the Round: To support the development and expansion of Elixir's modular liquidity protocol, enabling users to supply liquidity to pairs on orderbook exchanges and earn rewards.
- Series B
- Amount Raised: $8M
- Date: March 2024
- Lead Investors: Mysten Labs, Maelstrom
- Valuation at Round: $800M
- Motivation Behind the Round: To enhance liquidity across orderbook exchanges, support native integrations with major exchanges, and prepare for the mainnet launch.
Total Amount Raised: $17.6M. Current Valuation: $800M.
Key Investors
- Mysten Labs
- Details: Mysten Labs is a technology company focused on building foundational infrastructure for Web3. They are known for their work in blockchain technology and decentralized finance.
- Investment Focus Areas: Blockchain technology, decentralized finance (DeFi), Web3 infrastructure.
- Notable Investments: Not publicly disclosed.
- Maelstrom
- Details: Maelstrom is an investment firm with a focus on innovative technologies. Arthur Hayes, the Chief Investment Officer, is a significant figure in the blockchain space.
- Investment Focus Areas: Likely blockchain, decentralized finance, and emerging technologies.
- Notable Investments: Not publicly disclosed.
- Hack VC
- Details: Hack VC is a venture capital firm that invests in early-stage technology startups. They have a strong focus on disruptive technologies and innovative solutions.
- Investment Focus Areas: Technology startups, blockchain, fintech.
- Notable Investments: Not publicly disclosed.
- Manifold
- Details: Manifold is an investment firm that participates in funding rounds for high-potential startups. They are known for their strategic investments in the tech sector.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Amber Group
- Details: Amber Group is a global digital asset company that provides a full range of services for digital assets. They are involved in trading, asset management, and financing.
- Investment Focus Areas: Digital assets, blockchain, fintech.
- Notable Investments: Not publicly disclosed.
What's Next for Elixir?
Elixir stands at the cusp of significant growth opportunities, particularly in enhancing liquidity across orderbook exchanges. With native integrations planned for major platforms like dYdX, ApeX, and Hyperliquid, the potential for expansion is vast. The introduction of the Apothecary feature aims to engage the community, rewarding users for their contributions, which could further bolster Elixir's ecosystem.
Future fundraising appears promising as the demand for efficient on-chain trading environments grows. Institutional and retail investors are likely to show increased interest, driven by the shift from centralized to decentralized exchanges. However, Elixir may face challenges such as liquidity constraints in decentralized exchanges and competition from other protocols and centralized platforms.
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