How much funding has Ithaca raised?

Ithaca has raised $22.5M in total funding, most recently a Seed round.

Who are Ithaca's investors?

Ithaca's investors include Paradigm, Wintermute Ventures, Room40 Ventures.

Where is Ithaca headquartered?

Ithaca is headquartered in Hong Kong.

What industry is Ithaca in?

Ithaca operates in Blockchain & Crypto, Crypto & Web3, Financial Services.

Ithaca

Hong Kong · Founded 2023 · $22.5M raised

Blockchain & Crypto

Crypto & Web3

Financial Services

Headquarters: Hong Kong
Employees: 11–50
Founded: 2023
Business Model: Marketplace

Website: ithaca.finance
Total Funding: $22.5M
Last Round: $20.0M SeedOct 2024
Rounds: 2

About

Ithaca, operating as Ithaca Protocol, is a non-custodial, composable options protocol for decentralized derivatives trading, founded in 2023 by Dimitrios Kavvathas, a former Goldman Sachs and Amber Group executive, and Panos Mekras. Built on Arbitrum with planned expansion to Base and Solana, the protocol uses an auction-based, off-chain matching engine to aggregate liquidity, reduce blockchain congestion, and ensure fair pricing across vanilla and complex structured options products. The company raised $2.5 million in pre-seed funding in January 2024 co-led by Cumberland and Wintermute Ventures, and launched its beta protocol in May 2024.

Summary

Ithaca is a Blockchain & Crypto company based in Hong Kong, founded in 2023. It has raised $22.5M in total across 2 rounds, most recently a $20.0M Seed round in Oct 2024. Investors include Paradigm, Wintermute Ventures and Room40 Ventures.