Orca Raises $18M in funding from major VC
- Solana-based Orca has raised Series A funding, totaling $18 million.
- Major industry leaders are backing the project, thus ensuring success.
Massive Win for Orca
During a recent Series, A Funding round the Orca cryptocurrency exchange managed to raise $18 million in funding. For those that don’t know, Series A investors are usually looking for companies that are involved with a great community and have great ideas and strategies to fulfill those ideas. Usually, Series A investors come from the traditional venture capitalist sphere.
With multiple interested parties involved Orca has received interest and investments from firms such as Coinbase Ventures, Jump Capital, Sino Global Capital, Collab+Currency, DeFiance Capital, Zee Prime Capital, Solana Capital. During this round of investments, the leaders were Three Arrows Capital, Polychain Capital, and Placeholder VC.
Grace Kwon, the co-founder, stated that this was a token funding round in which ORCA sold its native tokens from their own private treasury to the investors. For a small company that is manned by only 8 people, this is a massive win.
Orca claims to have the simplest user experience for coin swapping and makes way for Fair price indication, built-in token balances, and much more. Grace Kwan, the co-founder, claims that the system created by them at Orca “improves what already exists in DeFi.” As ranked by DefiLlama and based on TVL( Total Value Locked), Orca currently ranks eight of all projects based on the ecosystem created by Solana. Currently, the TVL for Orca rests at $235M USD. Three Arrows Capital has claimed that Orca is a “critical addition” to Solana. Orca strives to bring joy and delight into a crypto UX.
More Funding Ahead
The Series A round was the first external funding round for Orca with many more opportunities on the horizon. Kwon has stated that the project had also recieved a grant from the Solana foundation as well. With this much interest and backing the road only looks more promising for Orca and any investors in the project.
Written by Ryisan Champion
The content of this article, analysis, report or webpage is not investment advice and does not constitute any offer or solicitation to offer or recommend any investment product. This content is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. The author may hold digital assets mention in this report