- Dexlab just closed a private funding round for a Solana gateway and token launchpad.
- The round raised a total of $1.44 million.
- Many leading blockchain venture capitals along with Solana and Eco Serum aided the cause.
Dexlab has just closed a private funding round for a gateway to the Solana ecosystem. The token minting platform has raised a total of 1.44 million. The funds will go straight into developing the gateway along with a token launchpad.
The funds were raised with the help of grants from Solana and Eco Serum. Besides these, the round saw active participation from leading blockchain venture capitals. In particular, many investment firms showed their support for Dexlab’s vision of a decentralized exchange and token minting framework on Solana.
Specifically, these include Parataxis Capital, Genesis Block Ventures, CMS, and NGC Ventures. Moreover, other backers include Ledger Prime, Arca, Bixin, DFG, Sonic Capital, members of Race Capital, VTG, Evernew Capital, Genblock, Rok Capital, Dragon Roark, 499Block, Cryptomeria Capital, Axia8 Ventures, M6, and PetRock Capital.
Founder and CEO of Dexlab, Dennis Lee, shares his thoughts:
“I’m grateful to all our investors for seeing the same potential in Solana as us, and for believing that Dexlab is the best team to turn this into a reality. We’re excited for the future of decentralized finance on Solana and for helping projects use the Minting Lab as their jumping off point for exploring the many possibilities for token issuance and smart contract creation.
Meanwhile, co-founder of GBV, Leslie, adds that Dexlab’s ‘Decentralized Finance as a Service’ platform is tailored for the Asian market. This works well since GBV too has its roots here. Therefore, with its Serum integration, Dexlab will be a strong “lego” towards making financial services more equitable globally.
Furthermore, many of the backers will provide solid mentorship focusing on business development, hiring, treasury, and financial management. Also, Dexlab allows users to easily interact with Solana’s CLI by providing an intuitive GUI with gorgeous UX/UI. All in all, users have the ability to coin, manage, and list SPL tokens and NFTs with just clicks and no codes.
Lastly, since the Dexlab team is based in Korea, it will be focusing on boarding new projects to Solana from the Asian region. By driving down the barriers to enter the Solana ecosystem, Dexlab provides a vital onramp for developers looking to create new DeFi primitives anchored by native tokens with strong fundamentals. All in all, this will strengthen network effects and align incentives between users.