Spicenet has raised a US$5 million Series A led by dao5. Babylon and Astrarizon also participated in the round. The company builds a brokerage network that connects DeFi applications, users, and liquidity across blockchains.
Funding history
The Series A follows a US$3 million Seed round co-led by Hack VC and Magnus Capital. Total disclosed funding now stands at US$8 million. The new capital will support the launch of Spice Edge and the SPICE token.
Product traction
Spice Flow gives applications a single integration for one-click actions across chains. Users avoid manual bridging, network switching, and gas fee management. It is live with Reppo on Base and Pare on Robinhood and has handled more than US$160,000 in beta transaction volume and 30,000 completed actions.
New products
Spice Edge is nearing beta launch and will bring trading and margin across venues into one account. Derive, DeFi's largest options platform by trading volume, is an announced launch partner. Spice Stocks, a consumer app in development, will let users buy tokenized equities and borrow USDC against eligible holdings.
Spicenet's Celestia-powered Layer 1 provides settlement and accounting and has supported more than 85,000 mainnet transactions. Monitoring partner BlockSight is helping develop risk monitoring and security safeguards across the products. The new funds will also seed liquidity for products built on the network.