Singularity Network, a protocol catering to institutional investors seeking confidential access to DeFi, raised $2.2 million in its second funding round that concluded in late 2023, according to a Feb. 22 statement shared with CryptoSlate.
The firm intends to use the newly acquired funds to bolster its protocol development, enhance its compliant DeFi infrastructure, and prepare for the protocol’s impending launch in the forthcoming months.
The funding round was spearheaded by Gumi Crypto Capitals, with participation from notable investors like Eureka Partners and Nomura’s digital asset subsidiary, Laser Digital. Other participants in this round included Digital Assets Capital Management, Gandel Invest, and Apollo Crypto—these firms had backed Singularity during its seed round.
Jemma Xu, the co-founder of Singularity, said the firm’s recent funding round validates the protocol’s product offering.
“Our investors’ commitments validate the institutional need to transact on-ch
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