June 29, 2022

Amber Group Leads $175M 1inch Series B Fund Raising

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1inch Network is a decentralized exchange aggregator that was founded in 2013. It is anticipated that this funding will be used to improve the utility of the protocol, and that it will also increase the availability of liquidity in the decentralized finance market as a result of this funding. The 1inch Network has raised a total of $175 million in funding, according to their website (also known as DeFi).

As announced on Wednesday, the company’s investment round raised more than double its initial goal of $70 million, exceeding it by a significant margin.. Among those who are familiar with the venture capital industry is 1inch Network, a well-known venture capital firm that specializes in technology-related investments and has a long history of success.

 Because of the assistance of the Amber Group, a crypto-finance unicorn, this funding round was able to attract approximately 50 investors. Also contributing to the company’s expansion were investors such as Alameda Research and Celsius Ventures, as well as VanEck and Jane Street. Tribe Capital, Gemini Frontier Fund, Fenbushi Capital, Alameda Research, and Alameda Ventures, as well as a number of angel investors, were among the company’s other investors, in addition to a number of angel investors.

1inch Network plans to use the funds to expand its capacity and better meet the needs of its customers in order to comply with ongoing regulatory changes affecting the DeFi market that are currently being implemented, according to the company. Also included are plans for onboarding institutional clients, the development of new protocols, and extending the range of possible applications for the 1INCH token, which currently has a market capitalization of approximately $650 million at the time of this article’s publication (at the time of writing).