API3 secures $4 million in funding with DWF Labs as the lead investor

May 30, 2024

API3, a DeFi data provider that offers data feeds directly to blockchain-based smart contracts without relying on intermediaries, recently secured $4 million in a funding round led by DWF Labs.

Project	Latest Raise	Latest Raise Date	Stage	Total Raise	Lead Investor	Category
API3	$4M	May 29, 2024	Series A	$7M	DWF Labs	Market Data

DWF Labs, a market maker and multi-stage Web3 investment firm, took the lead by contributing $2 million. Additionally, Spartan Group contributed $1 million, while Laser Digital (a digital asset business backed by Nomura) and Caladan (formerly known as AlphaLab) each contributed $500,000.

The raised funds will enhance API3’s liquidity and support the execution of their ongoing growth strategy. API3 plans to allocate the funding towards marketing efforts and business development initiatives.

The strategic funding round represents a major milestone for API3, offering the essential capital to expedite growth and development. Collectively, they are positioned to propel their mission of reshaping the oracle landscape through a fully integrated oracle stack, safeguarding protocols against OEV, and establishing the groundwork for a global on-chain financial system.

About API3

API3 is a decentralized API (dAPI) network that enables data providers to become their own blockchain 'oracles’.  API3 aims to solve the API connectivity problem by creating decentralized APIs composed of first-party oracles. Their platform allows for secure data feeds, connecting blockchain applications to off-chain data providers without relying on third-party intermediaries. They seek to redefine the oracle landscape by offering a fully integrated oracle stack, protecting protocols from OEV (Oracle Exploit Vulnerability), and contributing to a global on-chain financial system.

Website: https://api3.org/

Twitter: https://x.com/api3dao

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About Investor

Investor: DWF Labs

Description: DWF Labs is a global digital asset market maker and multi-stage Web3 investment firm. DWF Labs seeks to invest in and support bold founders who are shaping the future of Web3. They have a preference for blockchain and cryptocurrency projects. As one of the world’s largest high-frequency cryptocurrency trading entities, DWF Labs actively trades spot and derivatives markets on over 60 top exchanges. They provide liquidity provision, investment, and derivatives trading services.

Location:  Dubai

Website: https://www.dwf-labs.com/

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