$4.9 Million Raised by Alchemix from a Successful Funding Round

As the cryptocurrency industry continues to grow, more and more firms are becoming a part of it. Just a decade back, the cryptocurrency industry was hardly considered of any value by the internet analysts let alone be monitored by economic analysts.

However, after all the hardships and efforts, the industry has managed to make a name for itself. The industry has acquired mainstream attention as well as adoption from major institutions from around the world.

Looking at the potential and the market position of cryptocurrencies, many companies are starting to make a move in this sector. There are several companies that have started investing their resources in cryptocurrency and blockchain technologies.

Companies are now trying to make the best out of the crypto-blockchain industry and are looking for innovations. Even every funding round held by the crypto-firms is turning out to be successful because everyone wants a fair share in the industry.

This time, it is Alchemix that has announced that it has managed to successfully carry out a funding round. For those who are not aware of Alchemix, it is one of the fastest rising firms from the decentralized finance (DeFi) sectors. It is gradually making its way into the DeFi industry being a reliable protocol for cryptocurrency lending.

The firm has recently announced that it has successfully gathered $4.9 million from the recent funding round. The firm has confirmed that the funding round was led by some of the major venture capital groups from the crypto-industry. On top of that, there were some of other unusual groups that helped lead the funding round for the firm.

The firm has confirmed that all together, there were 10 investors who led the funding round and managed to generate a whopping figure of $4.9 million.

Alchemix announced that among the 10 investors, the most notable investors/leaders were Alameda Research, eGirl Capital, and CMS Holdings.

Apart from the above, there were some more investors such as Orthogonal Trading, Fisher8 Capital, LedgerPrime, Protoscale Capital, Nascent, Immutable Capital. The sources have confirmed that the 10th investor is yet to be revealed by Alchemix but so far, there is no information around the 10th investor.

Alchemix is a decentralized finance (DeFi) protocol that is based on the Ethereum (ETH) ecosystem. The firm has revealed that it wants to become one of the key components to the ecosystem for Ethereum (ETH). It aims to exist as a building block for the Ethereum (ETH) ecosystem and wants to facilitate as many investors as possible.

The firm thanked all the leaders from the funding round stating that it could not make it to this point if it weren’t for the support that they have received from all the venture capital groups.