NEW YORK, June 23, 2025 /PRNewswire/ — Veda, the leading DeFi vault platform enabling crypto applications, asset issuers, and protocols to build enterprise-grade cross chain yield products, today announced it raised $18M in funding. The round was led by CoinFund, with participation from Coinbase Ventures, GSR, Maelstrom, Animoca Ventures, Mantle EcoFund, BitGo, Credibly Neutral, Draper Dragon, Heartcore, PEER VC, and Relayer Capital. Angel investors Anchorage Co-Founder and CEO Nathan McCauley, Ether.Fi Co-Founder and CEO Mike Silagadze, and Polygon Co-Founder and COO Sandeep Nailwal also participated in the round.

Unlocking access to DeFi

DeFi has the potential to empower financial freedom with an open, transparent system that is low risk and free from value-extractive third parties. However, DeFi today is complex for the user, and there isn’t the right infrastructure to build multichain protocols at scale. To help bring DeFi to consumer and institutional audiences, financial applications must remove this complexity and manage risk on behalf of users, while preserving self-custody, transparency and security.

“The best infrastructure is invisible — it just works. That’s what we’ve built with Veda,” said Sun Raghupathi, Co-Founder and CEO of Veda. “We enable any platform to offer onchain yield without exposing the complexity of DeFi, while preserving what makes it powerful: self-custody, transparency, and control.”

A universal vault infrastructure 

Veda abstracts away the complexities of DeFi so that application users can have a seamless experience transacting through its universal vault infrastructure platform – the largest of its kind in DeFi. A vault is a smart contract that holds user deposits and applies a defined strategy to generate yield or execute a financial function. Veda allows developers and institutions to create vaults for any DeFi use case, from liquid restaking tokens (LRTs), to yield-based stablecoins, to savings accounts, to bootstrapping ecosystems, and more, all from Veda’s BoringVault framework, the most used vault standard in DeFi. Veda is one of the very few vault infrastructure protocols that is modular, composable, and cross-chain to fit any DeFi use-case that a protocol or institution may want. Since its March 2024 launch, this vault standard has amassed over 100,000 users and powers yield strategies across a wider range of segments such as yield vaults, including Plasma’s Vault, ether.fi Liquid, Lombard’s DeFi Vault and, LRTs like ether.fi’s eBTC and weETHs, native yield for chains including Sonic Rings and Corn’s sBTCN, pre-deposit campaigns for Berachain and TAC, and wallets including Binance Wallet and Bybit Web3.

“Institutions and fintechs aren’t just exploring DeFi in theory anymore — they’re actively implementing it,” said Stephanie Vaughan, Co-Founder and COO of Veda. “Veda’s BoringVault framework is already the definitive standard in DeFi, and the only one operating at this scale with a flawless security record. This raise allows us to deepen those partnerships and accelerate the next wave of DeFi adoption across established financial platforms.”

Veda was founded in early 2024 by CEO Sun Raghupathi, CTO Joe Terrigno, and COO Stephanie Vaughan, bringing a wealth of experience from previous ventures. Veda has over $3.7 billion in Total-Value Locked (TVL) to date, over 100,000 depositors, and plans to partner with a top five global centralized exchange in the next month.

“Veda solves an unmet and growing need in the DeFi ecosystem—as more wealth comes on chain, infrastructure for the on-chain equivalent of traditional ‘funds’ must exist, and Veda is the leader in providing these vaults,” said David Pakman, Head of Venture Investments and Managing Partner at CoinFund. “This investment reflects our conviction in the expansive venture return potential in DeFi and the Veda team’s foresight and leadership in providing critical foundational infrastructure for the future of financial markets.”

About Veda 

Veda is the DeFi engine for financial apps, enabling protocols, asset issuers, and institutions to build consumer-grade cross chain yield products. As the leading vault infrastructure platform, it already powers many of DeFi’s largest yield products and has over $3.7 billion in deposits.

For more information, visit https://veda.tech/

About CoinFund 

CoinFund is one of the world’s first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure.

For more information, visit www.coinfund.io, LinkedIn or join us on X.

SOURCE CoinFund

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