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Crypto startup Kintsu has closed a $4 million seed round led by Castle Island Ventures. The project has also received investments from venture funds Brevan Howard Digital, CMT Digital, Spartan Group, Breed VC, CMS Holdings, Animoca Ventures, and a number of private business angels.
In comments to The Block, Kintsu founder Stephen Novenstern said that the company began seeking investment in May and closed the round in early July 2024. The funds raised are structured as a simple agreement for future equity (SAFE), which gives investors the right to receive tokens.
It is known that Stephen Novenstern previously headed the development department of the Pangolin decentralized exchange, which operates on the Avalanche blockchain. The Kintsu team initially created a liquid staking protocol for the Aleph Zero blockchain, but subsequently focused its efforts on Monad.
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