How much funding has Archimedes raised?

Archimedes has raised $7.3M in total funding, most recently a Seed round.

Who are Archimedes's investors?

Archimedes's investors include Hack VC.

When was Archimedes founded?

Archimedes was founded in 2022.

Where is Archimedes headquartered?

Archimedes is headquartered in Los Angeles, California, United States.

What industry is Archimedes in?

Archimedes operates in Crypto & Web3, Fintech.

Archimedes

Los Angeles, United States · Founded 2022 · $7.3M raised

Crypto & Web3

Fintech

Headquarters: Los Angeles, California
Employees: 1–10
Founded: 2022
Business Model: B2C

Website: archimedesfinance.com
Total Funding: $7.3M
Last Round: $4.9M SeedFeb 2023
Rounds: 2

About

Archimedes is an open-source decentralized finance (DeFi) lending protocol headquartered in Los Angeles, California, focused on enabling superior capital efficiency for digital asset holders. Its flagship product, the Archimedes Vault, allows users to open leveraged positions of up to 10x using yield-bearing stablecoins as collateral, packaging highly-leveraged positions as tradable ERC tokens. The protocol is backed by top venture capital and crypto funds including Hack VC, and its core team comprises mathematicians, MIT alumni, and engineers with backgrounds at companies such as Okta, PayPal, and Bain. Archimedes raised a $4.9 million seed round in early 2023 and launched its ARCH token on the Ethereum platform.

Summary

Archimedes is a Crypto & Web3 company based in Los Angeles, United States, founded in 2022. It has raised $7.3M in total across 2 rounds, most recently a $4.9M Seed round in Feb 2023. Investors include Hack VC.