DeFi Trading Platform Aurox Seeking Funding at $75M Valuation
The DeFi-focused software developer firm is seeking to raise up to $1 million in a crowdfunding campaign on tZERO.
Decentralized finance (DeFi) trading platform Aurox Holdings is looking to raise new capital at a $75 million valuation, according to the firm’s fundraising dashboard on tokenized securities venue tZERO. The firm confirmed the valuation.
Aurox is seeking to raise up to $1 million by selling common shares to investors, with a minimum investment of only $252 to target retail investors. The target date to close the round is March 15.
The firm set a $6 price per share in the company and offered 169,000 shares for sale, based on a document filed to the U.S. Securities and Exchange Commission and reviewed by CoinDesk.
Aurox conducts the raise on tZERO under the SEC’s Regulation Crowdfunding (Reg CF) legal framework that allows eligible companies to raise up to $5 million by selling securities over a 12-month period.
TZERO is a regulated crowdfunding platform that aims to democratize private capital markets, backed by the New York Stock Exchange parent Intercontinental Exchange Inc. (ICE) among other investors.
Aurox launched an all-in-one trading platform called Aurox Terminal in 2020 that integrates more than 50 exchanges and now has 70,000 users and $1 billion of trading volume, the firm said on its fundraising site. It also has a crypto wallet product and crafted its own DeFi smart contract protocol and native ecosystem token, URUS.
The company raised $5 million in a previous fundraising round in early 2022. It plans to go public later this year, according to the firm's description on tZERO.
The Aurox fundraising happens as digital asset firms face a challenging landscape to secure capital investment. In January, venture capital and other investments into crypto firms plunged 91% on a year-over-year basis. However, investments in DeFi infrastructure declined by less than other sectors, CoinDesk reported last week.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.