# Blum Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/blum-labs

- Industry: Software
- Headquarters: Dubai, United Arab Emirates
- Website: www.blum.io/
- Total disclosed funding: $5M
- Latest round: Seed (Feb 12, 2025)
- Investors on record: 8

## About

Established in 2023 and based in Dubai, United Arab Emirates, Blum Labs Inc. focuses on simplifying the cryptocurrency trading experience. Gleb Kostarev (CEO), Vladimir Maslyakov (CTO), Sergey Tolmachev, and Alexander Lenin are the co-founders of the company. In November 2024, Blum Labs Inc. raised venture funding from The Open Platform.

Blum provides a trading platform that simplifies the cryptocurrency trading experience for its users. The firm’s core product offerings include an all-in-one application that allows users to trade a wide array of cryptocurrencies without the need for switching between multiple platforms. The platform features an off-chain order book with on-chain settlement, enabling seamless transactions directly from popular wallets such as Trust Wallet and MetaMask. This mobile-first platform incorporates integrated gaming mechanics, enhancing user engagement while facilitating local currency trading to tap into global opportunities. Blum is designed for a diverse clientele, including individual crypto investors and traders seeking a unified trading experience. The company targets users across various geographical markets, focusing on regions with established cryptocurrency communities and trading activities.

Blum's revenue is generated primarily through transaction fees associated with trades executed on its platform. The structure typically involves users engaging in trades that incur fees upon completion, allowing Blum to capitalize on each transaction. The platform may also leverage subscription models for enhanced services or features, providing additional revenue streams. Customers can transact directly with the platform.

The organization plans to use the November 2024 funding to bolster its presence in Telegram and TON.

## Funding rounds

- Seed, Feb 12, 2025, $5M — YZi Labs, BitScale Capital, Gumi Cryptos Capital, Spartan Group, Wintermute Ventures, OKX Ventures, No Limit Holdings, The Open Platform

## Investors

- YZi Labs (https://capitalatlas.ai/funds/yzi-labs) — Seed
- BitScale Capital — Seed
- Gumi Cryptos Capital (https://capitalatlas.ai/funds/gumi-cryptos-capital) — Seed
- Spartan Group (https://capitalatlas.ai/funds/spartan-group) — Seed
- Wintermute Ventures (https://capitalatlas.ai/funds/wintermute-ventures) — Seed
- OKX Ventures (https://capitalatlas.ai/funds/okx-ventures) — Seed
- No Limit Holdings (https://capitalatlas.ai/funds/no-limit-holdings) — Seed
- The Open Platform — Seed