# Drift Protocol Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/drift-protocol

- Industry: Financial Services
- Headquarters: Sydney, Australia
- Website: www.drift.trade
- Total disclosed funding: $52M
- Latest round: Series B (Sep 19, 2024)
- Investors on record: 14

## About

Based in New South Wales, Australia, and founded in 2021, Drift Protocol Corporation, also known as Drift Labs, operates as a financial technology company that offers a variety of trading options, including perpetual contracts, spot trading, and yield generation. The company was founded by Cindy Leow. In September 2024, Drift Protocol Corporation raised USD 25 million led by Multicoin Capital, Folius Ventures, Primitive Ventures, Maelstrom, and Blockchain Capital.

Drift Labs offers a decentralized derivatives cryptocurrency exchange platform, which is a prediction platform built on the Solana blockchain that allows users to trade various cryptocurrencies and tokens, including perpetual futures, spot trading, and swaps. In addition, the company also offers a DRIFT token, which is a community-driven governance token for the Drift Protocol.

The company plans to utilize the September 2024 funding raised to expand operations and its development efforts.

## Funding rounds

- Series B, Sep 19, 2024, $25M — Blockchain Capital, Multicoin Capital, Folius Ventures, Primitive Ventures, Maelstrom
- Series A, May 22, 2023, $24M — Polychain Capital, Ethereal Ventures, Folius Ventures
- Seed, Oct 26, 2021, $3.8M — Jump Capital, Multicoin Capital, LedgerPrime, Robot Ventures, QCP Capital, Alameda Research Ventures, ROK Capital, Not3Lau Capital

## Investors

- Jump Capital (https://capitalatlas.ai/funds/jump-capital) — Seed
- Multicoin Capital (https://capitalatlas.ai/funds/multicoin-capital) — Seed, Series B
- LedgerPrime — Seed
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Seed
- QCP Capital (https://capitalatlas.ai/funds/qcp-capital) — Seed
- Alameda Research Ventures (https://capitalatlas.ai/funds/alameda-research-ventures) — Seed
- ROK Capital — Seed
- Not3Lau Capital — Seed
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Series A
- Ethereal Ventures (https://capitalatlas.ai/funds/ethereal-ventures) — Series A
- Folius Ventures — Series A, Series B
- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Series B
- Primitive Ventures (https://capitalatlas.ai/funds/primitive-ventures) — Series B
- Maelstrom (https://capitalatlas.ai/funds/maelstrom) — Series B