Add as a preferred source on GoogleSpicenet Raises $5 Million in dao5-Led Series A for Network Products
A prior $3 million seed round co-led by Hack VC and Magnus Capital brings Spicenet’s total funding to $8 million.
Spicenet announced Oct. 27 that it completed a $5 million Series A led by dao5, bringing total funding to $8 million for its onchain brokerage network.
Babylon and Astrarizon also joined the round. Spicenet plans to use the proceeds to launch Spice Edge, its cross-venue margin product, and the SPICE token, as well as provide initial liquidity for products on its network.
The new financing follows a $3 million seed round co-led by Hack VC and Magnus Capital. Spicenet’s cross-chain product Spice Flow has recorded more than $160,000 in beta transaction volume.
Spice Edge is nearing beta release, with Derive as its first partner.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.