Elixir Valuation, Funding & Investors

Elixir is valued at $800M as of March 2024.

Last Elixir valuation

$800M

Series B · Mar 2024

Last Elixir funding round

$8M

Series B · Mar 2024

Cumulative funding Elixir raised

$18M

across 3 funding rounds

Key investors in Elixir

Elixir Overview

About Elixir

Elixir is a decentralized finance protocol tokenizing real-world assets from institutional investors like BlackRock and Apollo. The network issues deUSD, a yield-bearing synthetic stablecoin backed by treasuries and collateral. Elixir operates on its layer-1 blockchain facilitating on-chain lending and trading for traditional finance integration.


Founded

2022

HQ

United StatesNew York City, NY

Website

elixir.xyz

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Valuation

$800M (Mar 2024)

Elixir Valuation

Elixir is currently valued at $800M, based on its Series B in March 2024.

The $8M round was led by Maelstrom and Mysten Labs, with participation from Manifold Capital Partners, Flowdesk, Amber Group, GSR Ventures, Validation Capital (Rebranded to Validation Cloud) and 1 other investor.

Elixir's valuation has grown 8.0x from $100M at its Series A in October 2023 to $800M in March 2024, across 2 priced rounds.

Elixir valuation by funding round

Elixir valuation by funding round
DateStageValuation
Mar 2024Series B$800M
Oct 2023Series A$100M

Elixir Funding History

Elixir has raised a total of $18M across 3 funding rounds.

Elixir's first fundraising round was a $2M seed round in January 2023. The most recent completed round was a $8M Series B in March 2024.

Elixir funding rounds

Elixir funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2024Series BMaelstrom (lead); Mysten Labs (lead); Manifold Capital Partners; Flowdesk; Amber Group; GSR Ventures; Validation Capital (Rebranded to Validation Cloud); Long Tail Ventures$8M$800M-
Oct 2023Series AHack VC (lead); Hudson River Trading; LedgerPrime; NGC Ventures; Infinite Capital; AngelList; Genesis; Bloccelerate VC$8M$100MElixir Protocol is a DeFi protocol focused on bringing liquidity to the long tail of cryptoassets. The platform allows users to provide liquidity directly to trading pairs on order book exchanges and receive market maker rewards similar to AMM (Automated Market Maker) mechanisms. On October 18, 2023, Elixir completed a Series A funding round raising $7.5 million at a $100 million valuation. The round was led by Hack VC and included participation from AngelList, NGC Ventures, Bloccelerate VC, and angel investors from prominent trading firms including Ledger Prime, Genesis Trading, and Hudson River Trading.
Jan 2023SeedGate; Arthur Hayes; Chapter One; Betaworks; FalconX; Animoca Brands; Commonwealth Capital Ventures; Inception Capital; Quantstamp; MVST:MG; KuCoin$2M--

Who has invested in Elixir?

27 investors have backed Elixir across its funding rounds, including Animoca Brands, GSR Ventures, AngelList, Betaworks, NGC Ventures and Amber Group.

Lead investors include Maelstrom, Mysten Labs and Hack VC.


Elixir Investors

Investors in Elixir by funding rounds participated
InvestorHQRoundsRoleFirst check
Manifold Capital PartnersUnited StatesUnited States1ParticipantMar 2024
GateCayman IslandsGeorge Town1ParticipantJan 2023
FlowdeskFranceParis1ParticipantMar 2024
Arthur HayesHong KongHong Kong1ParticipantJan 2023
Chapter OneUnited StatesLos Angeles, CA1ParticipantJan 2023
BetaworksUnited StatesNew York City, NY1ParticipantJan 2023
Hudson River TradingUnited StatesNew York City, NY1ParticipantOct 2023
LedgerPrimeUnited StatesMiami, FL1ParticipantOct 2023
MaelstromHong KongHong Kong1LeadMar 2024
FalconXUnited StatesSan Francisco, CA1ParticipantJan 2023
Animoca BrandsHong KongHong Kong1ParticipantJan 2023
NGC VenturesSingaporeSingapore1ParticipantOct 2023
Commonwealth Capital VenturesUnited StatesBoston, MA1ParticipantJan 2023

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Elixir Competitors

Elixir competitors include listed companies like BitGo Holdings and HashKey Holdings, and private ones like Nansen, Elliptic, Flashbots and Gauntlet.

Public and private companies comparable to Elixir
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NansenSingaporeSingaporePrivate--$750M-
EllipticUnited KingdomLondonPrivate--$670M-
FlashbotsUnited StatesUnited StatesPrivate--$1B-
GauntletUnited StatesNew York City, NYPrivate--$1B-
BitGo HoldingsUnited StatesUnited StatesPublicly listed$16B($9M)$795M5.5x
HashKey HoldingsHong KongHong KongPublicly listed$92M($109M)$884M-

Elixir Public Comps

Elixir is still privately-owned, but its public comps include BitGo Holdings, HashKey Holdings, Indokripto Koin Semesta, Rhino Bitcoin, CARE Ratings, GlobalData, Finatext, Stewards, OSL Group and Value Line.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x
HashKey Holdings$92M($109M)6.4x-(5.4x)-
Indokripto Koin Semesta$16M$7M36.9x-81.1x-
Rhino Bitcoin$478K($417K)1242.8x-(1423.4x)-
CARE Ratings$49M$21M9.2x9.9x21.5x20.5x
GlobalData$433M$140M1.7x1.7x5.3x5.0x
Finatext$71M$13M6.3x5.4x34.1x-
Stewards------

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Common questions about Elixir

When was Elixir founded?Elixir was founded in 2022.
Where is Elixir headquartered?Elixir is headquartered in New York City, NY, United States.
Is Elixir publicly listed?No, Elixir is a private, VC-backed company.
What is Elixir's valuation?Elixir was last valued at $800M in its Series B in March 2024.
How much funding has Elixir raised?Elixir has raised $18M across 3 funding rounds.
What was Elixir's last funding round?Elixir's last funding round was a $8M Series B in March 2024, led by Maelstrom and Mysten Labs.
Who are Elixir's investors?Elixir's investors include Manifold Capital Partners, Gate, Flowdesk, Arthur Hayes, Chapter One, Betaworks, Hudson River Trading, LedgerPrime, Maelstrom, FalconX and 17 others.
Which companies are comparable to Elixir?Companies comparable to Elixir include Nansen, Elliptic, Flashbots, Gauntlet, BitGo Holdings and HashKey Holdings.

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