Solana-Based decentralized finance (DeFi) platform Orca secured $18 million in a Series A funding round.
Orca announced the news on Wednesday, stressing that it raised $18 million in a Series A investment round with Polychain, Placeholder, and Three Arrows co-leading the investment round.
According to the decentralized finance (DEX) platform, the investment will jumpstart their path toward making Orca the go-to swap for the Solana ecosystem.
In addition, Orca affirmed it has $300 million total-value locked (TVL) into the platform. Also, Orca said the $18 million in financing originates from well-known investors, including Polychain, Three Arrows, and Placeholder as the co-leads.
Moreover, there were also other participants like Defiance, Coinbase Ventures, Zee Prime, Solana Capital, Sino Global Capital, Jump Capital, and Collab & Currency.
During the announcement, Placeholder partner Chris Burniske said,
“Not only is Orca responsive and affordable, but it is finance made fun, with a cheery experience, community, and broader values-based mission. It’s teams like Orca that will bring crypto to the mainstream and redefine how we think of finance in our everyday lives.”
Moreover, the Orca team noted that the project started with no outside funding in February 2021. “Since then, we’ve expanded the core team to 8, spanning three continents, broad professional experience, and many hobbies,” adds the team.