Veterans from traditional tech and finance industries continue to turn their attention to crypto, with the team behind Router Protocol and Dfyn exchange adding Coinbase’s current CPO and a product executive from DoorDash to its list of prominent backers.
Router Protocol grows its list of prominent investors
Cross-chain interoperability protocol Router has announced that two Silicon Valley veterans have joined the project as investors. Surojit Chatterjee, the Chief Product Officer at Coinbase, and Gokul Rajaram, a member of the board of Pinterest, have both invested in Router Protocol’s Growth round.
Chatterjee was a former Head of Product for Indian e-commerce giant Flipkart and served as a VP of Product at Google until last year when he joined Coinbase as its Chief Product Officer. And while Chatterjee made the investment in a personal capacity, Router’s mission resonates with his mission to use Coinbase as an enabler to deliver economic freedom.
“Cross-chain liquidity migration is a key problem currently and the combination of the DFYN multichain AMM mesh and the Router XCLP Cross-chain Protocol has real potential to be a pioneer in this space,” he said.
Currently sitting on the board on Pinterest and Coinbase, Gokul Rajaram headed product development at Google, Facebook, and Square. According to Rajaram, the current product suite offered by Router Protocol and its sister-project Dfyn offer a high degree of product-market fit and have significant growth potential in the DeFi market. Rajaram is one of the most influential Indians in the US tech industry, according to Business Insider.
Router’s New Investors Part of Latest Growth Spurt
Launched late last year, Router has already experienced significant growth in the first half of 2021. Fueled by a significant number of new investments, the protocol is now embarking on a significant growth spurt that will see it add new products and features to its cross-chain suite and increase its user base.
Several leading investment funds and a handful of major blockchain platforms have already confirmed their participation in an investment round, with the protocol set to use the funds to build upon and further develop its technology and marketing capabilities.
The team behind Router Protocol also runs Dfyn Exchange, which has already attracted investors such as CMS Holdings, QCP, De-Fi Capital, Shima Capital, Krypital, AU21, GBIC, DFG, Spark Capital, Signum Capital, Rarestone Capital, Aave’s Ajit Tripathi, and Polygon co-founder Sandeep Nailwal. The $280 million in liquidity locked in the exchange further shows the potential of the team when it comes to capturing market share.
Ramani Ramachandran, the CEO and Co-Founder of Dfyn and Router Protocol, said that Router has gone from a niche project to a fast-growing DeFi ecosystem in less than six months. “That’s why they support the protocol will get from the likes of Chatterjee and Rajaram has the potential to push it to the forefront of the industry,” he explained in a recent interview.
He further notes, “with decades of combined experience in building and scaling industry-defining products to billions of users at companies such as Google, Coinbase, Doordash and Flipkart, their involvement adds a different dimension to the team and will help us scale the product suite to serve the next wave of retail and institutional DeFi adoption across blockchains.”
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Author: Shaurya Malwa