Kelp DAO, a platform focused on liquid restaking, has recently concluded a private funding round, securing a total of $9 million to fuel its expansion within the decentralized finance (DeFi) sector. This funding is intended to bolster the platform's capabilities and facilitate its expansion into new ecosystems, including Solana and Bitcoin.

The funding round was led by SCB Limited, a proprietary trading firm based in the Bahamas, and Laser Digital, the digital asset division of Nomura Global, who collectively contributed $3.5 million. Other significant participants included Cypher Capital, DACM, Draper Dragon, Hypersphere, and Bankless Ventures, among others.

The raised capital will be deployed to enhance Kelp DAO's technological offerings and extend its market reach, building upon its achievement of surpassing $850 million in total value locked (TVL) within its protocol and establishing a community of over 40,000 active restakers. The involvement of these notable investors underscores confidence in Kelp DAO's strategy to innovate within the restaking landscape.

Dheeraj Borra, the co-founder of Kelp DAO, expressed excitement about the fundraising, stating that it will accelerate their market expansion efforts and allow them to focus on delivering customer-centric solutions. The private fundraising comes at a time of increasing demand for restaking, with prominent platforms like Eigenlayer, Puffer Finance, and Etherfi gaining traction in the market.

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