PANews reported on June 24 that according to The Block, Berachain's liquidity pledge protocol Infrared Finance has raised an undisclosed amount of funds from Binance Labs. Raito Bear, the anonymous co-founder and CEO of Infrared, revealed that Binance Labs invested in Infrared as the only investor in a strategic financing round earlier this month. The structure of this strategic financing round was a simple agreement for future tokens (SAFT). Bear declined to comment on the total amount of funds raised to date and the valuation.

Earlier in January, it was reported that InfraredFinance completed a US$2.5 million seed round of financing, led by Synergis.