UK

[Funding alert] UK Startup Ostium Labs Secures $3.5M Seed Round Funding

Oct 10, 2023 | By Startup Rise EU

Ostium Labs has raised $3.5M from General Catalyst and LocalGlobe, with participation from Susquehanna International Group (SIG), DeFi Alliance, Balaji Srinivasan, Shiliang Tang (LedgerPrime), and nearly 20 additional founders, investors, and advisors.
co-founder of Ostium - Kaledora Kiernan-Linn

Ostium Labs has raised $3.5M from General Catalyst and LocalGlobe, with participation from Susquehanna International Group (SIG), DeFi Alliance, Balaji Srinivasan, Shiliang Tang (LedgerPrime), and nearly 20 additional founders, investors, and advisors.

This funding will facilitate the launch of our flagship protocol, the first decentralized, non-custodial perpetuals exchange for Real World Assets. Our launch comes at a critical time in financial markets. Unprecedented growth in the monetary base, supply chain bottlenecks, and rapid geopolitical change since 2020 drove inflation to 40-year highs.

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Unsurprisingly, investors are increasingly diversifying into alternative asset classes. This is true both on- and off-chain. In traditional markets, consumer trading of institutionally-dominated commodities is through the roof, with 90% YoY volume growth in micro contracts for metals and crude oil last year. Niche alternatives like investable fine wines and fractional Private Equity are seeing traction as well.

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Kaledora Kiernan-Linn, co-founder of Ostium said, “Perpetuals have grown exponentially in the last eighteen months. Yet the market lacks a dedicated platform for traders who want direct on-chain exposure to a broader range of asset classes. We're building Ostium to fill this gap, and drive the next wave of mainstream adoption by accelerating the transition of RWAs from narrative to reality.".

Read also - Ukraine-based Product Development Company Trinetix Raises $10 million in Funding

The vast majority of these on-chain Real World Asset solutions are geared towards long-term holders, rather than traders. Yet if there’s one area of crypto with Product Market Fit, it’s trading. The growth in perpetual futures volume the last 18 months has been exponential.

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About Ostium

Our founders met at Harvard in a freshman economics class before both working briefly at Bridgewater Associates. We first bonded over our shared experience competing in high-stakes environments, Marco as an International Physics and Math Olympiad medalist, and Kaledora in a previous career as a professional ballerina with the Royal Danish Ballet.

Read also - Hungary-based Startup Flawless Secures $2.2 Mn in Seed Funding

We’re building to bridge this gap, through the first decentralized perpetuals DEX purpose-engineered for Real World Assets, starting with commodities and FX.

Read also - London-based Lottie Secures €20 million Series A Round Funding

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