Solana ecosystem DEX Fermi Labs completes $1.2 million Pre Series funding round

According to Golden Finance, Solana ecosystem DEX Fermi Labs announced the completion of a $1.2 million Pre Seed round of funding, led by Equilibrium and Big Brain Holdings, with angel investors including Ashwath Balakrishnan, head of Delphi Digital consultants, and Robert Chen, CEO of OtterSec, a blockchain security audit firm. The new funds will be used to build a scalable and capital efficient order book DEX on Solana. In addition, the Solana Foundation has provided the company with a development grant, the specific amount of which has not been disclosed yet.