Umoja Raises $2M in Funding


Umoja, an Atlanta, GA-based DeFi startup, raised $2M in funding.

Backers included Quantstamp, Blockchain Founders Fund, Orange DAO, Hyperithm, Psalion, and Blizzard (Avalanche), among others.

The company intends to use the funds to continue to expand its development efforts.

Founded by Robby Greenfield, the former Head of Social Impact at ConsenSys, Umoja is advancing a DeFi’s first asset risk management primitive – enabling anyone to insure their market losses just as hedge funds would. Its goal is to enable decentralized hedging of virtually any real-world asset risk – from crypto, to fiat, to digital bonds, real estate, and commodities, representing a $500 trillion market opportunity.