Infrared Finance, a liquid staking protocol on the Berachain blockchain, has successfully raised $14 million in a Series A funding round led by Framework Ventures.
Infrared Finance, a liquid staking protocol on the Berachain blockchain, has successfully raised $14 million in a Series A funding round led by Framework Ventures. This latest round, which closed in January 2025, brings the total capital raised by Infrared to $18.75 million, including a previous $2.25 million strategic funding round in June 2024.
The Series A funding was structured as a simple agreement for future tokens (SAFT), a method consistent with Infrared's earlier funding rounds. Co-founder and CEO Raito Bear confirmed that the round attracted participation from various investors, including Citizen X, Halo Capital, No Limit Holdings, NGC Ventures, and Selini Capital.
Infrared was incubated through the Berachain Foundation's Build-a-Bera program and has developed two liquid staking tokens, iBGT and iBERA, which correspond to Berachain's governance and gas tokens, BGT and BERA, respectively. The protocol currently holds over $1.7 billion in total value locked (TVL), making it the largest protocol on Berachain, which has a combined ecosystem TVL of approximately $3 billion.
Despite the recent funding success, the Berachain ecosystem has faced challenges. BERA, the platform's native token, has seen a significant price drop of 57% since its launch on Feb. 6, currently trading around $6.30. Concerns regarding investor control over BERA's supply have also been raised.
Michael Anderson, co-founder of Framework Ventures, stated that Infrared is positioned to enhance the accessibility of proof-of-liquidity within the Berachain community.
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