Decentralised finance: Mangrove raises $7.4 million
Created in 2021 by French researchers, the protocol is designed to improve the allocation of liquidity in decentralised finance.
Who knows Mangrove? Not many. But in the world of "Defi" (decentralised finance), the protocol of French origin is clearly one of the rising stars.
The project has just raised $7.4 million in Series A from several large investors, including the American Cumberland and the German Greenfield Capital, which has invested in Nym and Immortal Game, among others. Mangrove had already raised $2.7 million in 2021 from the UK's Wintermute Ventures, France's Stake Capital and others.
The valuation of Mangrove is still confidential.