According to Odaily Planet Daily, Helix Labs announced the successful completion of the Pre-Seed round of financing, raising US$2 million at a valuation of US$40 million. Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group led the investment.

The fund aims to increase the use cases of regulated L1 assets, solve its “cold start” problem by providing liquidity and users for L3, unlock Cardano’s liquidity, and bring it into the broader DeFi ecosystem.

Helix Labs has joined Movement Labs’ Move Collective accelerator program, and the protocol technology will allow Cardano’s ADA token holders to stake while receiving liquid staked ADA, which will then be bridged to Movement, unlocking approximately $12 billion in liquidity on Cardano.

Helix Labs aims to enhance yield opportunities for non-Ethereum L1 asset holders and support future MoveVM rollups through liquidity abstraction and the OmniVM technology stack.