Arrakis Finance Closes $4 Million Seed Funding Round with Uniswap Labs Ventures Involved

Arrakis Finance, a decentralized market-making protocol, raised $4 million in a seed funding round. Investors included Uniswap Labs Ventures, Accel, Polygon Ventures and Robot Ventures. There was no lead investor in the round, and it was secured via a simple agreement for future tokens (SAFT). The funds raised will be used to expand the team and build protocols, etc.

Arrakis Finance was established last year by Rodriquez and Hilmar Orth. The duo launched the first version (V1) of the Arrakis Finance protocol in April last year, which allows running algorithmic strategies on Uniswap V3.

Last week, Arrakis Finance launched V2 of its protocol, which can be "thought of as an abstraction layer on top of concentrated liquidity automated market makers (AMMs) like Uniswap V3," Rodriquez said. "It enables central limit order book (CLOB) like interactions."