GRVT Secures $5 Million Funding to Enhance Crypto Exchange Operations
GRVT, a crypto exchange on ZKsync, secured $5 million in funding led by Further Ventures. This equity round took place from October to December 2023, bringing GRVT's total capital to $14.3 million.
- Previous funding included pre-seed and seed rounds with token warrants.
- The exchange launched its mainnet alpha for crypto perpetual trading last month, averaging $50 million in daily trading volume.
- GRVT has over 800 active traders and 55 institutional clients.
- More than 32,000 users have completed KYC verification.
Expansion Plans
- Plans to introduce spot and options trading this year.
- Aiming to upgrade its Class M Bermuda crypto license to a full Class F license.
- Seeking regulatory approvals including MiCA in the EU and licenses in Abu Dhabi’s ADGM.
Recent Achievements
- Expanded team from 19 to 52 members and plans further hiring in product and engineering.
- Launched nine new trading pairs including ZK, SOL, BNB, ARB, OP, TON, POL, ATOM, and PEPE.
- Achieved $75 million in 24-hour trading volume.
Further Ventures also has prior investments in crypto technologies and manages $200 million in assets. The firm emphasizes GRVT's commitment to compliance and bridging DeFi with traditional finance.