Spherium Finance Raises $3.3 Million in Seed and Private Rounds

Spherium Labs
May 12 · 6 min read

We are proud to have received support from top tier funds in the blockchain and DeFi investment space

The DeFi industry is changing the way the world accesses and utilizes financial services and tools. With nearly $78 billion USD currently locked in DeFi protocols, the space is growing rapidly and new innovations are emerging every day. But the pioneering tools and opportunities available within this nascent industry are still largely out of reach to the everyday consumer, with complicated UIs, fragmented user journeys and the prevalence of scams all acting as bottlenecks to mass adoption.

Presenting a truly “all-in-one” solution, the Spherium platform offers users a universal wallet, a token swap platform, decentralized money markets and inter-blockchain liquidity transfers all within one secure and easy to access location. We are today excited to announce that with the successful closing of our Private raise round, some of the industry’s most recognized names trust and believe in our vision. The private sale round came after an oversubscribed seed round and highlighted the large amount of interest and support we received from the blockchain investment space.

“We strive to invest in the most innovative and user-friendly projects on the market. When looking deeper into Spherium we’ve realized that we found such a project. We’re happy to be early supporters and we’re excited to see how the project develops and grows; we have no doubt that Spherium will gain a lot of traction in a short period of time.” — Christian Mischler, Swiss Founders Fund

A variety of angel investors, venture capital funds, blockchain project founders and cryptocurrency exchanges supported us in our Seed and Private raise rounds, with a total of $3.3 million raised. Names of those that participated are as below:

Accretion Ventures (Orion Protocol)

Orion Protocol aggregates the liquidity of every crypto exchange on the market into one decentralized platform, providing a singular, non-custodial, gateway to the entire digital asset market. Accretion Ventures is a venture arm of Orion for funding, advisory, and incubation of projects focused on the development of the DeFi space.

Blockdream Fund

Part of the OKEX cryptocurrency exchange arm, Blockdream Fund supports visionary founders and blockchain projects with great potential, with previous investments including Plasm, Casper Labs and CERE Network.

Gate.io

Founded in 2017, Gate.io is recognized as the earliest crypto-to-crypto exchange from China and is today a popular cryptocurrency exchange listing over 180 different cryptocurrencies and nearly 400 different cryptocurrency markets.

Rarestone Capital

Rarestone Capital is a venture capital firm that has supported various successful early-stage blockchain startups and Web3 Protocols since its inception, with a holistic approach to investing in the most promising project founders and teams. Previous investments include Terra Virtua, Polkastarter, Manta Network and API3.

Swiss Founders Fund

Based in St.Gallen, Switzerland, the Swiss Founders Fund has invested in and supported a wide variety of blockchain and non-blockchain start-ups, building with them and utilising their experience to ensure successful market launches.

LD Capital

LD Capital is a reputable Chinese venture capital firm that has been consistently investing in successful blockchain startups since 2015. With more than 100 Million USD AUM, previous LD Capital investments include RSK, Fantom and NEO.

GBIC Capital

Global Blockchain Innovative Capital is a multi-strategy crypto fund with offices in New York, Shanghai, and Seoul. GBIC furthers the development, acceleration, and launch of blockchain projects. Investments include PolkaDex, Tomochain and IoTex.

NGC Ventures

NGV Ventures was co-founded by former NEO Council members and financial market veterans and looks to invest in the very best of blockchain technology. As one of the largest and most active institutional investors of cryptocurrencies, NGC Ventures has previously invested in Kucoin, Solana and Kusama to name but a few.

X21 Digital

X21 Digital is a Blockchain Advisory and Investment firm dedicated to helping mainly blockchain startups accelerate their growth and exposure in the industry. Their diverse investment portfolio includes the likes of Maha DAO, Boson Protocol and Hathor Network.

SL2 Capital

SL2 Capital supports mission-driven founders innovating in the blockchain and Web3 space, investing across all stages and sectors within the industry. Previous investments include Polkalokr, DAFI Protocol and Casper Labs.

Twin Apex Capital

Twin Apex Capital is a private equity firm that provides support and investment to early-stage blockchain and cryptocurrency-related projects. Comprising blockchain and emerging technology natives, the firm has been actively investing in projects for five years, with recent investments including Terra Virtua and Polkalokr.

AU21 Capital

AU21 Capital strives to support the growth of the world’s best blockchain technologies out there, with early investments including Binance, Huobi and Polkadot. The firm is led by Chandler Guo, who previously co-founded Gate.io, one of the top exchanges in Asia.

Titans Ventures

Titans Ventures is one of Vietnam’s top incubators of emerging blockchain projects and has supported a variety of pioneering platforms and protocols during early stages, including Polkadex, DAO Maker and Sigmadex.

DCI (Dutch Crypto Investors)

Founded in 2017, DCI was created to promote, educate and inspire crypto enthusiasts, also supporting the most promising blockchain projects on the market. Recent investments include Bumper.fi and Solanium.

BlockOG Capital

BlockOG Capital is a VC fund that specializes in Incubating and accelerating early-stage blockchain projects. Focused on DeFi, NFT, Polkadot, and Binance Smart Chain ecosystem, and cross-chain protocol projects. Investments include Reef, Ethernity Chain and DAFI Protocol.

ExNetwork Capital

ExNetwork Capital has supported a myriad of blockchain projects in recent years and has been central in the success of numerous projects launched since 2018. Investments include Thorcahin, FTX Exchange and DIA.

Wolfedge Capital

Based in Hong Kong, Wolfedge Capital uses an in-house proprietary 47 metric due diligence scoring system to target and invest in the most promising blockchain and emerging technology start-ups around the world. Previous investments include Icon, Polkadot, Wanchain and Reef.

Inclusion Capital

Inclusion focuses on incubating and investing in interoperable blockchain companies in key verticals with early signs of adoption to form a synergetic ecosystem foundation. We help startups by providing legal, marketing, recruiting and operational services to our portfolio companies.

Petrock Capital

Having participated in the early raises of several pioneering startups in the DeFi, DEX and NFT spaces recently including Raydium and Star Atlas, Petrock Capital looks for breakthrough blockchain technologies that are backed by strong teams and communities.

CSPDAO

With an investment portfolio including Mantra DAO, Hathor and Hedera Hashgraph, CSPDAO offers a unique blockchain system designed to address fair investment rights and gives investors access to cutting-edge blockchain projects through early-stage funding rounds.

Chronos Ventures

With previous investments including 0Chain, TeFood and Playcent, Chronos Ventures is a private investment fund focused on early-stage investments in blockchain, DeFi and NFT projects.

Lysithea Ventures

Lysithea backs visionary founders. Their mission is to accelerate the mass adoption of blockchain and Web3 space by investing in promising projects. Recent investments include Terra Virtua, DAFI Protocol and Bitberry Finance.

T3E (MW partners)

T3E (There Exists Ventures) is designed as a thesis-driven investment firm that invests in early-stage blockchain companies with transformative potential.

T3E’s investment thesis and partnership style are best described by the following 3 Es: Endeavour, Elevate, Exist. They seek game-changing projects and provide them with the relevant resources in order to drive long-term success.

Moving Forward

We would like to thank all that participated and that support us in our mission to make the benefits of decentralized finance more accessible to all with our suite of DeFi tools. The coming weeks will be full of exciting announcements and milestones for Spherium and we are proud to have the backing of so many reputable names from the blockchain industry behind us.

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About Spherium Finance

The Spherium Finance platform offers a complete suite of financial services comprising a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. Our platform will function as a global financial service provider, extending fundamental financial services to the unbanked.

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