# Spicenet Raises $5 Million in dao5-Led Series A for Network Products

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/42280
Published: 2026-10-28T02:51:17.000Z
Updated: 2026-10-28T02:51:17.000Z
Section: Business

> 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.