DeFi vault platform Veda has raised $18 million in a funding round 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 in the raise included Anchorage CEO Nathan McCauley, EtherFi co-founder Mike Silagadze, and Polygon co-founder Sandeep Nailwal, according to a press release shared with The Block. The round was closed in May, Veda co-founder and CEO Sun Raghupathi told The Block, though he declined to disclose a valuation.

Veda plans to use the funding to broaden its strategy options by accessing both onchain and offchain yield sources, offer enhanced enterprise services, and scale the platform's capabilities to better support developers, Raghupathi said.

Veda argues that while DeFi promises open and low-risk financial freedom, it remains too complex for users and lacks scalable infrastructure for multichain adoption. To reach mainstream audiences, apps must simplify DeFi while preserving self-custody, transparency, and security, it said.

Veda aims to simplify DeFi by providing a universal vault infrastructure that enables apps and institutions to offer yield products without exposing users to complex mechanics. This allows anyone to access on-chain financial services in a user-friendly manner while maintaining the benefits of decentralization.

"As more wealth comes onchain from the rapid adoption of stablecoins and the increasing ownership of digital assets, users will seek access to DeFi protocols and services for yield, rewards and investment," CoinFund Managing Partner and Head of Venture Investments David Pakman told The Block. "The most flexible and transparent infrastructure for DeFi are vaults, and Veda is behind BoringVault, the best and most widely-adoptable vault in the world. The team has a fantastic vision for how to bring DeFi into the mainstream and we are excited to partner with them."

"The best infrastructure is invisible — it just works. That's what we’ve built with Veda," Raghupathi said. "We enable any platform to offer onchain yield without exposing the complexity of DeFi, while preserving what makes it powerful."

More specifically, Veda's core product is a smart contract vault — a programmable container for user deposits that can automatically generate yield or perform other financial functions. Through its "BoringVault" framework, developers and institutions can easily build custom vaults for different use cases, from yield-bearing stablecoins to liquid restaking tokens or ecosystem incentives, according to the project. Veda's system is modular (enabling users to mix and match components), composable (integrated with other DeFi systems), and cross-chain.

"Institutions and fintechs aren't just exploring DeFi in theory anymore — they're actively implementing it," Veda co-founder and COO Stephanie Vaughan said. "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."

Since launching in March 2024, Veda says it has been adopted by apps, including Plasma, EtherFi, Binance Wallet, and Bybit Web3, and claims to power over 100,000 users' DeFi strategies. Having attracted $3.7 billion in total value locked, Veda said it also plans to partner with a top-five global centralized exchange in the next month.