Veda, a rapidly expanding infrastructure provider in the DeFi sector, has secured $18 million in a funding round led by CoinFund.
The round attracted participation from major players, including Coinbase Ventures, GSR, BitGo, and Animoca Ventures, alongside prominent angel investors such as Anchorage CEO Nathan McCauley and Polygon Co-founder Sandeep Nailwal.
This fresh capital injection is set to accelerate Veda’s mission of simplifying DeFi for both institutional and retail users. Since its launch in March 2024, the platform has amassed over $3.7 billion in Total Value Locked (TVL) and attracted more than 100,000 users, quickly establishing itself as a crucial component of the evolving DeFi ecosystem.
Central to Veda’s offering is its “BoringVault” framework—an industry-standard vault infrastructure that abstracts away the technical complexity of DeFi. This universal vault system enables developers, fintech platforms, and crypto protocols to create on-chain yield products, such as savings accounts, liquid restaking tokens (LRTs), and yield-based stablecoins, while maintaining self-custody and transparency.
“Our goal has always been to make DeFi infrastructure invisible and effortless—without sacrificing self-custody or transparency,”
said Sun Raghupathi, Co-founder and CEO of Veda.
“We’re enabling platforms to offer secure yield opportunities to users without the typical friction.”
Further demonstrating its traction, Veda’s vault infrastructure is already integrated with platforms like Binance Wallet, Bybit Web3, and ether.fi. It also supports a growing list of DeFi projects, including Sonic Rings, Berachain, and Corn. The platform’s modular, cross-chain architecture is designed to adapt to a wide range of financial applications, bridging both decentralized and traditional finance.
Emphasizing the strategic importance of Veda’s infrastructure, CoinFund Managing Partner David Pakman noted that the DeFi space is entering a new phase of institutional adoption—and platforms like Veda are laying the foundational rails for that growth. In parallel, the DeFi momentum continues to build elsewhere in the ecosystem. Hyperion, the largest decentralized exchange (DEX) on the Aptos blockchain, has just completed a strategic funding round led by OKX Ventures.
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