Blum Secures $5M Funding from Cryptos Capital to Enhance Its AI-Powered Trading Platform

Gleb Kostarev, Blum Co-Founder & CEO

Blum, a gamified Telegram-based decentralized exchange (DEX), raised $5 million. The investment round was led by gumi Cryptos Capital, which also included participation from prominent venture funds like Spartan, No Limit Holdings, YZi Labs, OKX Ventures, and more

Blum plans to allocate the funds toward developing its Telegram-based trading platform.

Blum's $5 Million Funding to Propel Blockchain and AI Trading

Blum's rapid growth trajectory has garnered attention across the Web3 space. With its Telegram community surpassing 32 million members, it is now considered one of the largest communities in the crypto sector.

Since its official launch in July 2024, Blum has recorded notable achievements, including the highest on-chain activity with 2.2 million unique wallets. This fast adoption, coupled with the project's transition from a tap-to-earn model to a trade-to-earn model, positions it as a major player in decentralized trading.

With $5 million funding secured, Blum intends to implement new features, including multichain support and the expansion of its trading bot. The latter has already attracted more than 1 million users and has become the largest trading bot in Telegram.

Additionally, the team plans to further develop its Blum Memepad platform, which is used to create meme coins within the same interface. This meme coin project leads The Open Network (TON) and ranks second globally, with over $200 million in trading volume, 200,000 tokens created, and 380 coins listed on DEXs.

The investors highlighted several key aspects of Blum that attracted their attention:

• High user activity
• Transition from the "tap-to-earn" model to the "trade-to-earn" model
• Potential to become the leading platform within the TON ecosystem, which currently lacks large DEX

“This funding marks a significant milestone for Blum as it will fuel the development of our trading features. We are profoundly grateful to our partners and early supporters for their confidence in our vision. From day one, Blum has captured the attention of both investors and users. Our funding approach was not merely about securing capital; it was about carefully selecting partners whose expertise and resources can amplify the user experience”, said Gleb Kostarev, CEO and Co-Founder of Blum.

Blum also received funding from The Open Platform (TOP) and Binance's venture arm, Binance Labs.

Source: Bitget