Veda Secures $18M To Scale DeFi Vaults Across Chains, Eyes Centralized Exchange Partnership

by Murtuza J Merchant Benzinga Staff Writer

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The funding included support from Coinbase Ventures, GSR, Animoca Ventures, BitGo, and other major crypto investors.
Veda’s platform allows financial applications to offer DeFi yields without exposing users to operational complexities.
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Veda, a decentralized finance (DeFi) vault infrastructure provider, raised $18 million in a funding round.

The startup, which supports financial applications in building consumer-grade DeFi products, plans to use the capital to accelerate its partnerships and infrastructure growth.

CoinFund led the funding round. Several prominent investors participated in the effort, including Coinbase Ventures, GSR, Maelstrom, Animoca Ventures, Mantle EcoFund, BitGo, Credibly Neutral, Draper Dragon, Heartcore, PEER VC, and Relayer Capital.

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Individual backers include Anchorage CEO Nathan McCauley, Ether.Fi CEO Mike Silagadze, and Polygon MATIC/USD COO Sandeep Nailwal.

Veda's platform enables protocols, asset issuers, and institutions to offer yield products without exposing users to the technical complexities of DeFi.

“The best infrastructure is invisible — it just works,” said Sun Raghupathi, co-founder and CEO of Veda. “We enable any platform to offer onchain yield without exposing the complexity of DeFi, while preserving what makes it powerful: self-custody, transparency, and control.”

Launched in March 2024, Veda's BoringVault framework claims to have over 100,000 users and more than $3.7 billion in total value locked (TVL).

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The vaults currently support yield strategies for products like Plasma's Vault, ether.fi Liquid, Lombard's DeFi Vault, and restaking tokens like ether.fi's eBTC and weETHs.

"Institutions and fintechs aren't just exploring DeFi in theory anymore — they're actively implementing it," said Stephanie Vaughan, co-founder and COO of Veda. "Veda's BoringVault framework is already the definitive standard in DeFi, and the only one operating at this scale with a flawless security record. This raise allows us to deepen those partnerships and accelerate the next wave of DeFi adoption across established financial platforms."

Veda plans to announce a partnership with a top-five global centralized exchange in the coming month as it continues to expand its infrastructure.

CoinFund's Head of Venture Investments, David Pakman, said, "Veda solves an unmet and growing need in the DeFi ecosystem—as more wealth comes on chain, infrastructure for the on-chain equivalent of traditional ‘funds' must exist, and Veda is the leader in providing these vaults."

Since its inception, Veda claims to have positioned itself as a vault platform that aims to simplify DeFi access for both institutional and consumer applications while maintaining self-custody and security standards.

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