Portal Gate, a Singapore-based compliant and privacy-centric decentralised finance infrastructure (DeFi) stack, has successfully closed a seed funding round, raising $1.1 million. The funding round was led by Apollo Crypto and saw participation from UpsideDAO, Greythorn Asset Management, Comma3 Ventures, Gandel Invest, Rebase D. Ventures, Fork Ventures and angel investors. Portal Gate aims to develop compliant and private DeFi infrastructure to enhance on-chain trading efficiency for institutions. The company's initial offering includes privacy pools that obfuscate wallet links, and its core product will be a decentralized dark pool allowing users to transact on-chain with hidden prices and order sizes. The funding will be used to expand the team, launch privacy pools on the mainnet, and accelerate the development of the decentralized dark pool.
Summary: Singapore-based Portal Gate has closed a seed funding round of $1.1 million, with Apollo Crypto leading the round. Portal Gate focuses on building compliant and private DeFi infrastructure, starting with privacy pools and developing a decentralized dark pool. The funding will support team expansion and the launch of privacy pools on the mainnet.