Ultrade, a New York-based multichain DeFi-as-a-Service infrastructure company, raised $2.4M in Seed funding.

The round was led by Algorand Foundation with participation from Big Brain Holdings, Tess Ventures, Sarson Funds, Valhalla Capital, among others.

The company intends to use the funds to expand operations and its business reach.

Led by CEO Dan Goldman, Ultrade provides a DeFi-as-a-Service trading ecosystem that gives brands, projects and communities the ability to generate and capture trading fees from their audience in an owned experience. The core of the platform is an all-in-one, non-custodial DeFi trading application dubbed the Ultimate Trading Suite, comprising full limit orderbook trading for Spot and Derivatives such as leveraged perpetuals, as well as their advanced Hybrid Aggregating AMM (haAMM) which provides best-execution across LP pools and the orderbook, increasing liquidity depth and reducing slippage, while giving liquidity providers on the orderbook a piece of the fees paid for the provided liquidity.

The company launched its Testnet on the Algorand blockchain in late June, amassing thousands of users on Algorand, and plans to expand as a multi-chain platform.

Ultrade Raises $2.4M in Seed Funding. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to ashu@startuplanes.com