• Radix Tokens (Jersey) has raised $10 million in funding, giving the Radix platform a 400 million dollar valuation.
• The funding was led by DWF Labs and other unnamed blockchain venture capitalists and angel investors.
• Over 50 projects are being developed on the Radix platform, including dApps for wallets, borrowing, lending, gaming and NFTs.
Radix Tokens Secures $10 Million in Private Fundraising Round
Radix Tokens (Jersey) has secured $10 million in new funds as part of a private capital round that was headed by DWF Labs. This investment gives the Radix platform a 400 million dollar valuation and strengthens its efforts to develop its high throughput DeFi ecosystem. In addition to DWF Labs, unnamed blockchain venture capitalists and angel investors have also contributed to this fundraising round.
DWF Labs Leads Funding Round
DWF Labs is an international leader in market making and multi-stage web3 investing with branches across Hong Kong, South Korea, British Virgin Islands, Singapore, Switzerland and United Arab Emirates. The primary investor for this round is DWF Labs who will be focused on developing the coming Radix ecosystem with their expertise and capital at the launch of the coming Radix mainnet – Babylon. “We are thrilled to lead the $10 million funding round for Radix Tokens (Jersey) and support their vision of building out a high throughput DeFi ecosystem,” said Andrei Grachev – Managing Partner of DWF Labs during his announcement regarding the fund raising round.
Radix Projects Under Development
Currently more than 50 projects are actively being developed on Radix which includes dApps for wallets, borrowing, lending gaming and Non Fungible Tokens (NFT). The platform also has grants program which provides financing along with mentoring from experts from within the team to 6 chosen teams.
Reaction from Director of Radix Tokens (Jersey)
After acquiring additional funds Andy Jarrett – Director of Radix tokens( Jersey) expressed “It is fantastic to have the DWF labs team focused on coming radis ecosystem” he further added “and lend their expertise and capital to launch coming radis mainnet Babylon”
Conclusion
By successfully securing 10 million dollars in private funds ,radis token has strengthened its efforts towards development of its high trough put defi ecosystem which will fuel more than 50 projects currently under development on radis platforms such as wallets ,borrowing ,lending ,gaming &nfts . reaction from director after acquiring additional funds shows how important it is for them to have dwf labs team involved .