# Ultrade

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ultrade

- Industry: Software
- Headquarters: New York, US
- Website: www.ultrade.org
- Total disclosed funding: $2.4M
- Latest round: Seed (Sep 6, 2022)
- Investors on record: 5

## About

Based in New York, US, and founded in 2021 by its CEO Dan Goldman, Ultrade operates a Defi-as-a-service infrastructure company that offers a comprehensive Defi suite of applications and service technology. In September 2022, Ultrade raised USD 2.4 million in seed funding led by Algorand Foundation Ltd., with participation from other Big Brain Holdings, Sarson Funds, Tess Ventures, and Valhalla Capital. As of September 2022, the company's product has already been test-traded by 1,000 people and created nearly 200,000 orders and trades.

Ultrade offers a DeFi trading ecosystem with crypto-pair spot DEX that supports the entire range of Algorand ASA pairs, including those bridged from other chains; leveraged perpetual contract trading that enables a fully decentralized marketplace for the exchange of short and long positions on any supported crypto asset; Hybrid aggregating automated market maker leverages an aggregation of standard pair liquidity pools and order book directional liquidity to reduce slippage for the end user. In addition, the company offers a decentralized lending marketplace that allows access to leverage and uses within the scope of other trading activities.

The company plans to use seed funding to expand operations and its business reach.

## Funding rounds

- Seed, Sep 6, 2022, $2.4M — Algorand Foundation Ltd., Sarson Funds, Tess Ventures, Big Brain Holdings, VALHALLA CAPITAL

## Investors

- Algorand Foundation Ltd. — Seed
- Sarson Funds — Seed
- Tess Ventures (https://capitalatlas.ai/funds/tess-ventures) — Seed
- Big Brain Holdings (https://capitalatlas.ai/funds/big-brain-holdings) — Seed
- VALHALLA CAPITAL — Seed