Helix Labs, a Road Town, British Virgin Islands-based company providing a protocol supporting an AltVM future through restaking beyond ETH, raised $2M in Pre-Seed funding.
The round was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Sneh Bhatt, Helix Labs is advancing a protocol that maximizes yield earning opportunities for non-ETH L1 asset holders through restaking and supports an OmniVM rollup future through liquidity abstraction. The startup offers three key products:
- Helix Vault: Integrates liquid staking protocols and liquid restaking protocols on various Layer-1 Blockchains, including Cardano.
- UniRollup L2: A single Move Stack roll-up structure hosting LSTs from L1s to be restaked, enabling seamless integration of liquid staked ADA into diverse DeFi protocols.
- OmniVM AVS: Facilitates the bootstrapping of emerging L3 ecosystems within the Movement Ecosystem and beyond via liquidity abstraction.
In addition to the funding announcement, Helix Labs joined Movement Labs’ Move Collective accelerator program. This partnership will provide the company with resources and support as they continue to develop their innovative solutions for the blockchain ecosystem.
FinSMEs
24/09/2024