Valantis Labs, the developer behind the modular decentralized exchange (DEX) protocol Valantis, has raised $7.5 million in pre-seed and seed funding rounds.
The pre-seed round, worth $3.5 million, was raised in April 2023, while the $4 million seed round closed in September 2024, Valantis Labs co-founder Deven Matthews told The Block. Cyber Fund and Kraken Ventures co-led the pre-seed round, while SevenX Ventures led the seed round, Matthews said. Other participants included Semantic Ventures, Figment Capital, Robot Ventures, Anthony Sassano and Sandeep Nailwal.
Both rounds were structured as simple agreements for future equity (SAFE) with token warrants, Matthews said. The pre-seed round valued Valantis at $20 million, while the seed round doubled that valuation to $40 million, he added.