February 4
Decentralised Finance (DeFi) startup Pillow raised $3M in seed funding led by Elevation Capital and a host of prominent crypto angels, including Scott Lewis (Co-founder, DeFi Pulse), JD Kanani & Sandeep Nailwal (Co-founders, Polygon), Prabhakar Reddy (Co-founder, FalconX), and Aniket Jindal (Co-founder, Biconomy) and industry stalwarts like Ramakant Sharma (Livspace), Farid Ahsan (Sharechat), Kush & Sambhav (FamPay), Mukund Jha (Dunzo) amongst others.
The fresh capital will be used to build alpha-generating DeFi strategies for popular crypto assets including $BTC, $ETH, and popular stablecoins, accelerate global expansion, build a strong user community, and brand building.
Founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra, Pillow is a community for users worldwide accessing the platform helping them generate downside-protected interest on crypto assets by investing in curated, actively managed DeFi strategies created by the team.
‘Democratizing decentralised finance’
Arindam Roy, CEO & Co-founder, Pillow, said, “We want to create a future where accessibility to decentralised finance is democratized, if not more than traditional finance. Our users have shown unequivocal faith in our platform in our private access program, and we’re on track to scale this to new heights. We’re grateful for the mentorship and guidance of Elevation Capital as we scale, along with some of the best builders in the Web 3.0 space, including Sandeep, JD, Prabhakar and Aniket.”
Vaas Bhaskar, Principal, Elevation Capital, added, “We believe the next big unlock in Web 3.0 is going to come from significantly improving user experiences. Pillow fits right into that theme by abstracting away the complexities of DeFi – and hence making it more accessible. We’re impressed with Arindam, Rajath and Kartik’s depth of understanding and clarity of vision, and are thrilled to partner with them in this journey.”