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DeFi Protocol Shogun's Developer Intensity Labs Raises $69M in Seed Funding Round

16/05/2024 01:03

According to Odaily, Intensity Labs, the developer of the DeFi protocol Shogun, has successfully completed a seed funding round, raising $69 million at a valuation of $690 million. The funding round was led by Polychain Capital and DAO5. Other participants in the round included Arrington Capital, Maelstrom, the family office of Arthur Hayes, Build-a-Bera, and angel investors such as Cobie, Ansem, Ser Shokunin, and Meltem Demirors. Intensity Labs is focused on the development of Shogun, a DeFi protocol that is centered around intent. The successful funding round demonstrates the growing interest and investment in the DeFi sector. The funds raised will likely be used to further the development and expansion of the Shogun protocol. The participation of notable investors such as Polychain Capital, DAO5, and others, underscores the potential that these investors see in the Shogun protocol and Intensity Labs. As the DeFi sector continues to grow and evolve, it is expected that more investors will show interest in projects like Shogun.

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