Investment Firm Framework Ventures Tops $14 Million Series A Funding Round for Berachain's Liquid Staking Technology Infrared
Infrared, a leading liquid staking protocol based on Berachain, has announced a significant investment of $14 million in its Series A funding round, led by Framework Ventures. This funding is set to bolster Infrared's growth and community engagement, particularly within the Berachain ecosystem.
The fresh capital will primarily be used to expand Infrared's team, with the company seeking to hire a development and operations engineer, a head of DeFi for the Asia Pacific region, and other key personnel. This team expansion is expected to accelerate the development of Infrared's products and services, enhancing the company's role within the Berachain community.
Framework Ventures believes that Infrared will play a crucial role in simplifying and increasing access to Proof of Liquidity for users in the Berachain community. The protocol is anticipated to unlock significant amounts of productive capital within the wider Berachain ecosystem while maximising efficiency and yield.
Infrared's expansion plans are not limited to team growth. The company aims to establish a strong presence in the Asia Pacific region, with the hiring of a head of DeFi for this region being a key part of those plans.
The Series A round also saw strategic investments from YZi Labs (formerly Binance Labs), Hack VC, and No Limit Holdings. Infrared has grown to become the largest protocol on Berachain, with over $1.7 billion in TVL (Total Value Locked), and offers two flagship liquid staking tokens, iBGT and iBERA, on its platform.
With this new funding, Infrared's total raised capital now stands at $18.75 million. The company is excited about the opportunities this investment presents and looks forward to furthering its mission of simplifying DeFi for users across the globe.
The fresh capital will aid Infrared in not only expanding its team, focusing on hiring personnel like a development and operations engineer, a head of DeFi for the Asia Pacific region, and other key individuals, but also strengthening its presence in the news and technology landscape, particularly within the Berachain community. This move is anticipated to augment the efficiency of their services and position Infrared as a key player in the finance and investing sectors within the Berachain ecosystem.
