What is 1inch?
1inch is a computer software company that operates as a decentralized exchange (DEX) aggregator. Its platform allows users to access liquidity from various decentralized exchanges, enabling them to find the best token swap rates and execute trades efficiently. Based in Germany, 1inch plays a crucial role in the cryptocurrency ecosystem by optimizing trading strategies and reducing slippage for its clients, thereby enhancing the overall user experience in online trading within the digital asset space.
How much funding has 1inch raised?
1inch has raised a total of $14.8M across 2 funding rounds:
Unspecified
$2.8M
Series A
$12M
Unspecified (2020): $2.8M with participation from LAUNCHub, Loi Luu, Binance Labs, Galaxy Digital, Illia Polosukhin, Divergence Ventures, Libertus Capital, IOSG, Greenfield One, Dragonfly Capital, and FTX
Series A (2020): $12M led by Gumi Cryptos, LAUNCHub, Nima Capital LLC Inc, Spartan Capital Securities, ParaFi Capital, Struck Capital, Rockaway Blockchain Fund, Spark Capital, Fabric Ventures, Blockchain Capital, and Pantera Capital
Key Investors in 1inch
LAUNCHub
LAUNCHub is a leading early-stage venture capital fund that invests in startups from South-Eastern and Central-Eastern Europe. Since 2012, the fund has focused on backing ambitious founders with a global vision, providing initial investments between 0.3 to 3 million euros. They offer strategic guidance, mentorship, and access to a global network of clients and co-investors, helping portfolio companies raise significant follow-on funding.
Struck Capital
Struck Capital is a venture capital firm based in Los Angeles that focuses on investing in and building transformative technology companies at the Seed stage. They offer a comprehensive suite of services including end-to-end hiring support, customer introductions, and dynamic PR and marketing assistance, positioning themselves as an extension of their portfolio companies' teams.
Blockchain Capital
Blockchain Capital was founded in 2013 with the mission of helping entrepreneurs build world-class companies and projects based on blockchain technology - providing founders with the tools they need to succeed: capital, domain expertise, partnerships, recruiting and strategy. Blockchain Capital is one of the earliest and most active venture investors in the blockchain industry and has financed more than 110 companies and projects since its inception.
What's next for 1inch?
The substantial enterprise-level backing and recent strategic investment signal a strong growth trajectory for 1inch. This capital infusion is expected to fuel further development of its aggregation technology, expansion into new markets, and enhancement of its decentralized finance offerings. The company is poised to solidify its position as a leader in the DeFi aggregation space, potentially driving innovation and adoption of decentralized trading solutions globally.
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