Rho Labs, the London-based company behind Rho Protocol, has successfully raised $2.2M in Pre-Seed funding. The investment round was led by Speedinvest, with participation from Keyrock, Re7 Capital, Daedalus Collective, and Dmitry Tokarev. With this infusion of capital, Rho Labs plans to expand its operations and increase its business reach.
Rho Labs, under the leadership of Founder and CEO Alex Ryvkin, has developed a unique platform that enables on-chain rates trading.
This is made possible through their proprietary concentrated liquidity Virtual Automatic Market Maker (vAMM) and margin engine. Through their platform, users can trade rates such as staking rewards and perpetual funding rates, free of counterparty risk and with extreme capital efficiency. Rho Labs' vision is to create a highly efficient market for crypto-specific rates, such as staking, digital asset lending, and funding rates, catering to institutional crypto traders.
The company's upcoming milestone includes the launch of a private beta of Rho's market on Arbitrum, which is set to take place later this year. The private beta will be available to a select group of global trading partners, offering them the opportunity to experience Rho's innovative approach to on-chain rates trading. By expanding its reach and operations, Rho Labs aims to revolutionize the crypto trading landscape and bring greater opportunities to institutional crypto traders around the world.