Portal Gate, a Singapore-based provider of a compliant and privacy-centric DeFi infrastructure, raised $1.1M in funding.
The round was led by Apollo Crypto with participation from UpsideDAO, Greythorn Asset Management, Comma3 Ventures, Gandel Invest, Rebase D. Ventures, Fork Ventures, founders of Ren Protocol, zCloak Network, Pellar Technology and other angel investors in Web3.
The company intends to use the funds to scale the core team, launch privacy pools on mainnet, and accelerate the development of the decentralized dark pool.
Founded in late 2022, Portal Gate works to build compliant and private DeFi infrastructure to facilitate more efficient on-chain trading for institutions. The first iteration is privacy pools that obfuscate links between wallets and the core product will be a decentralized dark pool providing users with the ability to transact on-chain with hidden prices and order sizes. As Web3 moves towards a more regulated regime, Portal Gate is leveraging zero-knowledge based compliance oracles to complete both off-chain and on-chain permissioning.
Portal Gate’s privacy pool is targeted for mainnet launch in Q3.
FinSMEs
20/06/2023