Infrared Finance Raises $14 Million in Series A to Expand Berachain Ecosystem

Infrared Finance, a liquid staking protocol on Berachain, announced it has raised $14 million in a Series A funding round led by Framework Ventures. The funding, structured as a simple agreement for future tokens (SAFT), was completed in January 2025 after beginning in November 2024. This brings Infrared's total funding to $18.75 million, including a $2.25 million strategic round in June 2024 initially backed by Binance Labs and a $2.5 million seed round last year. Infrared is the first project to benefit from Berachain's 'Build a Bera' incubator and currently holds over $1.7 billion in total value locked (TVL), making it the largest protocol on Berachain, which has around $3 billion in TVL. The protocol offers liquid staking tokens (LSTs) iBGT and iBERA for Berachain's native tokens BGT and BERA. Berachain, an Ethereum virtual machine (EVM)-compatible Layer 1 blockchain, launched its mainnet on February 6 but has since faced criticism, with BERA dropping 57% to around $6.30.