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Solana-Based Derivatives Protocol Cega Raises $5 Million To Expand on Ethereum

Cega, a DeFi derivatives protocol focused on exotic options, raised $5 million in a new funding round led by Dragonfly Capital that also saw participation from Pantera Capital and Robot Ventures.

The seed extension round was realized via a Simple Agreement for Future Equity plus token side letter, Cega co-founder and CEO Arisa Toyosaki said in an interview. She declined to comment on the valuation but said it was an up round, meaning it was more than Cega's last valuation of $60 million.

The latest round brings Cega's total funding to date to $9.3 million. It raised $4.3 million last March.

(by Yogita Khatri)

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