Pye Finance Secures $5M Seed Funding from Variant and Coinbase Ventures to Build DeFi Infrastructure

Pye Finance, a decentralized finance (DeFi) infrastructure project, has successfully raised $5 million in a seed funding round. The investment was led by prominent venture capital firms Variant and Coinbase Ventures. This significant capital injection will be used to accelerate the development of Pye Finance's core protocol, which aims to provide essential tools and services for the next generation of DeFi applications. The backing from such established investors in the crypto space signals strong confidence in Pye's vision and technical roadmap. The funding will primarily focus on expanding the development team, enhancing protocol security through audits, and preparing for a future public launch. This move underscores the continued venture capital interest in foundational DeFi building blocks despite market conditions.