During a recent Series A Funding round the Orca cryptocurrency exhange managed to raise $18 million in funding. For those that don’t know, Series A investors are ususally looking for companies that are involved with a great community and have great ideas and stategies to fulfill those ideas. Usually Series A investors come from the traditional venture capitalist sphere.
With multiple interested parties involved Orca has recieved interest and investments from firms such as Coinbase Ventures, Jump Capital, Sino Global Capitlal, Collab+Currency, DeFiance Capital, Zee Prime Capital, Solana Capital. During this round of investments the leaders were Three Arrows Capital, Polychain Capital, and Placeholder VC. Grace Kwon, the co-founder,stated that this was a token funding round in which ORCA it’s native tokens from their own private treasury to the investors. for a small company that is manned by only 8 people, this is a massive win.
Orca claims to have the simplest user experience for coin swapping and makes way for Fair price indication, built-in token balances and much more. Kwan claims that the system created by them at Orca “improves what already exists in DeFi.” As raneked by DefiLlama and based on TVL( Total Value Locked) , Orca currently ranks eight of all projects based on the ecosystem created by Solana. Currently the TVL for Orca rests at $235M USD. Three Arrows Capital has claimed that Orca is a “critical addition” to Solana.
The Series A round was the first external funding round for Orca with many more opportunities on the horizon. Kwon has stated that the project had also recieved a grant from the Solana foundation as well. With this much interest and backing the road only looks more promising for Orca and any investors in the project.
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