CoinFund Leads $18 Million Round for DeFi Vault Builder Veda

DeFi infrastructure start-up Veda has raised $18 million in a funding round led by CoinFund, with additional backing from Coinbase Ventures, Animoca Ventures, GSR and other investors. The company said the new capital will be used to expand its modular vault framework, which lets developers embed simplified crypto-yield products into their applications. Since launching its vault platform last October, Veda has lifted total value locked from about $1 billion to $3.5 billion and attracted more than 100,000 depositors, according to figures shared by the firm. Veda’s technology underpins products run by protocols such as Aave, Etherfi, Morpho and Pendle, allowing them to bundle staking and liquidity strategies into easily deployable vaults. The financing comes as venture funding for decentralised-finance projects shows signs of recovery after a prolonged downturn. CoinFund partner Chris Perkins said the firm backed Veda because its infrastructure "simplifies complex yield engineering for both developers and end users." Veda did not disclose a valuation, but chief executive Jane Doe said the company aims to scale its engineering team and pursue additional institutional partnerships over the next year.