Helix Labs Completes Pre-Seed Funding Round

According to Odaily, Helix Labs has successfully completed its Pre-Seed funding round, raising $2 million at a valuation of $40 million. The funding was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group. The raised capital aims to enhance the use cases of L1 assets by providing liquidity and users for L3, addressing its 'cold start' issue, and unlocking Cardano's liquidity to integrate it into the broader DeFi ecosystem. Helix Labs has joined Movement Labs' Move Collective accelerator program. The protocol technology will enable Cardano's ADA token holders to stake while obtaining liquid staked ADA, which can then be bridged to Movement, potentially unlocking approximately $12 billion in Cardano's liquidity. Helix Labs aims to improve yield opportunities for non-Ethereum L1 asset holders and support future MoveVM rollups through liquidity abstraction and the OmniVM tech stack.