Ellipsis Labs Raises $3.3M Funding To Build Orderbook DEX

The company is developing the first limit orderbook DEX on Solana

Last updated: August 18, 2023 1:36 PM

Published August 18, 2023 1:36 PM

Last updated: August 18, 2023 1:36 PM

Published August 18, 2023 1:36 PM

The DeFi developer, Ellipsis Labs raises $3.3 million in seed funding round to accelerate development of Phoenix, a decentralized limit orderbook DEX on Solana.

Ellipsis Labs is proud to announce a $3.3M seed round, led by @ElectricCapital.

The seed round saw participation from notable investors including @robotventures, @anagramxyz, @aeyakovenko, @keoneHD, and others. pic.twitter.com/a5xb8OG9Xl
— Ellipsis Labs (@ellipsis_labs) August 17, 2023

The official blogspot states that the funding round is led by Electric Capital and partial participation from Robot Ventures and Anagram.

The funding round also had notable investors including CEO of Solana Labs Anatoly Yakovenko, Marc Borion from Polygon Labs and Keone Hon.

The firm claims that more than $250 million of volume has been recorded on Phoenix without any external incentives.

Another notable product from the developer firm is The Solana Verified Builds, a tool for verifying source code of application. This on-chain dev-tooling platform is very popular among Solana’s ecosystem developers.