2025-1-17 13:00 |
Web2.5 project Torram has announced the closure of its pre-seed funding round, which ended in December 2024. The round was supported by top names such as Draper Associates, Blockchain Founders Fund, Boost VC, Side Door Ventures, Deep Ventures, MH Ventures, Silvermine Capital, and Trive Digital.
A total of $710,000 was raised for the project and is now making way for the building of its institutional-grade decentralized finance (DeFi) infrastructure directly on Bitcoin.
This groundbreaking idea positions Torram as a key leader in blockchain innovation in the evolving financial ecosystem. Commenting on the round, Vakeesan Mahalingam, CFA, CEO of Torram, said:
“This oversubscribed round is a testament to the growing demand for infrastructure that meets institutional needs. We’re building what others haven’t dared to—seamless, reliable systems on Bitcoin that will redefine the trillion-dollar financial landscape.”
The project aims to bring the vast mainstream financial system to the Bitcoin blockchain. By combining Bitcoin’s security, DeFi’s innovation, and bank-grade reliability, Torram seeks to empower companies to build robust Bitcoin-native applications while enabling institutions to leverage Bitcoin as a secure settlement layer for financial transactions.
Torram’s Bitcoin-based DeFi network will have three components, namely a decentralized oracle network for Real-time, secure data feeds for institutional use, a decentralized indexer network providing comprehensive indexing for Bitcoin’s ecosystem, and decentralized APIs providing standardized tools for seamless data integration and bridging of traditional finance (TradFi) with decentralized networks.
Over 40 projects are already awaiting integration, which attests to the rising demand for reliable infrastructure as Bitcoin continues to expand its role in global finance.
“Torram’s technology bridges the gap between Bitcoin’s potential and institutional requirements. We’re in the pick-and-shovel business of building on Bitcoin. By 2027, tapping to pay with Bitcoin-native stablecoins will feel as effortless as sending an email—and our infrastructure will make it possible.”
Institutional interest in blockchain and Bitcoin has been on the rise, as shown by Bitcoin reaching a $2 trillion market cap. With such increasing interest comes the need for scalable solutions tailored to financial institutions, and Torram is set to meet those needs.
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