Lighter, a prominent player in the decentralized finance (DeFi) sector, has recently announced the successful closure of a $68 million funding round, valuing the company at $1.5 billion. This significant investment underscores a renewed sense of confidence in blockchain projects that are actively developing real-world cryptocurrency trading solutions.
Funding Structure and Company Vision
The latest funding round for Lighter was spearheaded by Founders Fund, an investment firm co-founded by Peter Thiel, and Ribbit Capital. Additional contributions came from Haun Ventures and Robinhood. The $68 million raise comprises a combination of equity and token warrants, providing investors with access to a cryptocurrency that is slated for future launch.
Vladimir Novakovski, the founder of Lighter, emphasized the company's core mission: to construct an infrastructure layer designed to ensure that all financial operations are conducted with fairness and transparency.
The platform has experienced rapid growth since its strategic pivot from Lunchclub, a former AI-driven social networking startup also co-founded by Novakovski. Lunchclub, which had raised $30 million during the pandemic, faced challenges in sustaining its growth trajectory throughout 2022.
Novakovski managed to retain the majority of the company's employees, subsequently rebranding the organization as Lighter. The company had previously secured an earlier round of $21 million in 2024. With this latest investment, Lighter has now raised a cumulative total of nearly $90 million.
Lighter Offers 24/7 Crypto Trading and Plans Bitcoin Spot Market Integration
Operating differently from traditional exchanges, Lighter functions as both a decentralized exchange (DEX) and its own proprietary blockchain network. The platform's current focus is on perpetual futures, a category of crypto derivatives that enables continuous 24/7 trading without expiration dates.
Novakovski has indicated plans to introduce spot trading for major cryptocurrencies, including Bitcoin (BTC), onto the platform. This strategic expansion is anticipated to significantly broaden the platform's appeal within the broader crypto ecosystem, positioning it as a more versatile hub for traders.
Lighter's successful fundraising occurs at a time when institutional investors are increasingly directing capital towards crypto projects that demonstrate tangible infrastructure and practical use cases. This trend is exemplified by Ripple's recent fundraising of over $500 million, which propelled the company's valuation to approximately $40 billion, indicating a growing investor preference for platforms that merge innovation with demonstrable market utility.
Rapid Growth Amidst Intensifying Competition
The platform has achieved remarkable growth. According to data from L2BEAT, Lighter's blockchain ranks among the leading Layer-2 networks in terms of total value locked (TVL). Notably, Lighter played a crucial role in enabling Ethereum to reach its highest-ever transaction speeds (TPS).
Despite facing competition from other platforms such as Hyperliquid and Aster in the perpetual DEX market, Lighter has successfully established itself as a formidable competitor. The rapidly expanding decentralized trading platform currently processes approximately 4,000 TPS, significantly outperforming the Base Chain's typical range of 100–200 TPS.
Novakovski stated that the company is profitable and confident in its competitive standing within the decentralized trading landscape. With the newly secured funding, Lighter is poised to expand its product offerings, including the planned introduction of spot trading, and to further enhance its blockchain ecosystem.