- Orca raised $18 million in a Series A funding round.
- The investment will set their path toward making Orca the go-to swap for Solana.
Solana-Powered Defi platform Orca, raised $18 million in a Series A funding round.
The decentralized exchange (DEX) platform announced the news on Wednesday. Orca stresses that it secured $18 million in a Series A investment round with Polychain, Placeholder, and Three Arrows co-leading the funding.
According to the decentralized finance (DeFi) platform, the investment will jumpstart their path toward making Orca the go-to swap for the Solana ecosystem.
In addition, Orca stated that it has $300 million total-value locked (TVL) into the platform. Also, Orca noted that the $18 million in financing originates from well-known investors. This includes Polychain, Three Arrows, and Placeholder. 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.
In addition, the Orca team said the project started with no outside funding at the launch in February 2021. “Since then, we’ve expanded the core team to 8, spanning three continents, broad professional experience, and many hobbies.” says the team.