Veda, a (DeFi) infrastructure firm, said it raised $18 million in a round led by CoinFund to support its platform, which enables apps and institutions to offer simplified crypto yield products.
The startup’s main product is a modular vault framework that lets developers create smart contracts to manage yield strategies without exposing users to the complexity of DeFi, the firm said.
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The vaults, built on Veda’s BoringVault standard, support a range of applications including restaking tokens, yield-bearing stablecoins and on-chain savings accounts.
Veda says it has processed deposits from more than 100,000 users across a growing network of DeFi protocols and fintech platforms since its debut in March 2024.
These include products such as ether.fi’s eBTC and weETHs, Plasma’s Vault, and pre-deposit campaigns for Berachain and TAC. Wallets like Binance Wallet and Bybit Web3 are also integrating the infrastructure.
Veda already oversees over $3.7 billion in total value locked and plans to partner with a top-five centralized crypto exchange in the near future, it added.
The raise also saw participation from Coinbase Ventures, Animoca Ventures, GSR, Mantle EcoFund, BitGo, and Draper Dragon among others.
