MNX, a decentralized futures exchange focused on the AI economy and built on the Ethereum Layer 2 network MegaETH, has raised $6.4 million in a pre-seed funding round.
Village Global led the round, with Cambrian, North Island Ventures, Finality Capital, Relay Digital, as well as angel investors including Dwarkesh Patel, Byrne Hobart, Augur and Gnosis co-founder Matt Liston, and Gitcoin's Scott Moore participating, MNX said Wednesday.
The startup began fundraising in March, closing the first tranche within a couple of weeks and a second tranche last week following additional investor interest, MNX co-founder and CEO Stephen Grugett told The Block.
The round was structured as a simple agreement for future equity (SAFE) with token warrants at a $40 million valuation, Grugett said. No investors in the round received board, advisory, or observer seats, he added.
AI-focused futures exchange
