Veda Raises $18 Million With Backing From Coinbase and CoinFund to Scale DeFi Vaults

• Veda raises $18 million in round led by CoinFund
• Veda’s DeFi Infrastructure Focuses on Automatic Yield Vaults
• DeFi platform is already used by Binance Wallet and Bybit

Veda, an infrastructure platform for decentralized finance (DeFi), has completed an $18 million funding round with participation from major industry names. The fundraising was led by CoinFund and included investments from Coinbase Ventures, GSR, Animoca Ventures, Maelstrom, and other crypto funds.

We're thrilled to announce we've led @veda_labs ' $18M Series A!

Here's why CoinFund Partner and Director of Research @EvanTheFeng is bullish on vaults and how the team approaches building one of the most transformative technologies in DeFi 🧵 pic.twitter.com/L2dKWhnNHt

— CoinFund (@coinfund_io) June 23, 2025

Angel investors include influential names such as Nathan McCauley (Anchorage), Mike Silagadze (EtherFi) and Sandeep Nailwal (Polygon). According to Veda CEO and co-founder Sun Raghupathi, the funds will be used to expand access to both on-chain and off-chain revenue streams, as well as strengthen the platform’s technical foundation for developers.

Veda’s proposal is to offer a DeFi vault framework — called BoringVault — that allows institutions and applications to offer yield-generating products without requiring technical knowledge from users. These vaults are built on programmable smart contracts, capable of generating yields or performing other financial functions automatically, while maintaining DeFi’s principles of self-custody, security, and transparency.

David Pakman, Managing Partner at CoinFund, said: “The most flexible and transparent infrastructure for DeFi is vaults, and Veda is behind BoringVault, the world’s best and most widely adopted vault. The team has a fantastic vision for how to bring DeFi to the mainstream and we are thrilled to partner with them.”

Raghupathi emphasizes that Veda is designed to operate invisibly, allowing any platform to deliver DeFi yields with ease. “The best infrastructure is invisible — it just works,” he said.

COO Stephanie Vaughan adds that Veda’s framework is already the industry standard. “BoringVault is already the definitive DeFi model and the only one operating at this scale with an impeccable security track record.”

Since its launch in March 2024, Veda has integrated with projects such as EtherFi, Plasma, Binance Wallet, and Bybit Web3. The platform claims to have surpassed $3,7 billion in total value locked (TVL) and is preparing to announce a partnership with one of the five largest centralized exchanges in the world.