HTX Ventures Invests in Kelp DAO to Accelerate Restaking Innovations

PRNewswire May 23, 2024

SINGAPORE, May 23, 2024 /PRNewswire/ — With a commitment to broadening the reach and usability of blockchain technologies, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in Kelp DAO, a triple-income re-pledge protocol based on EigenLayer.

Kelp DAO has secured $9 million in its latest round of strategic private sales, which will support its vision to reshape the DeFi and restaking ecosystem. This funding will enable Kelp DAO to further develop its cutting-edge technology, expand its offerings, and refine its liquid restaking solutions. Currently, Kelp offers liquid restaking across the Ethereum mainnet and nine Layer 2 solutions, including Arbitrum, Blast, Linea, Base, and Scroll.

“We are excited to support Kelp DAO,” said Edward, Managing Partner at HTX Ventures. “Their focus on enhancing user experience and driving developer experimentation is pivotal to the early success of restaking. We believe Kelp’s innovative approach will transform the DeFi landscape, and we are thrilled to be part of their journey.”

Dheeraj Borra, Co-founder at Kelp, shared, “This fundraise not only fuels our operational capabilities but also validates the vision we have for Kelp, which is now shared by our investors. We’re excited to scale our solutions and enhance user experience even further with their support.”

HTX Ventures is thrilled to support innovative projects like Kelp DAO, which offers a much-needed, user-friendly, and scalable solution. Users can stay connected with Kelp DAO through their official website and social media channels for the latest product updates.

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Figment Capital, Dragonfly, Bankless Ventures, Animoca, Shima, and IVC.

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