Infrared Finance, a Berachain liquid staking protocol, has raised an undisclosed sum from Binance Labs, the $10 billion venture capital and incubation arm of the crypto exchange Binance.

Binance Labs invested in Infrared earlier this month in a strategic funding round as the sole investor, Raito Bear, pseudonymous co-founder and CEO of Infrared, told The Block. Infrared is Binance Labs' first investment in the Berachain ecosystem, a spokesperson of the venture firm told The Block.

The strategic funding round was structured as a simple agreement for future tokens or SAFT, Bear said. Earlier this year, Infrared raised $2.5 million in a seed funding round from NGC Ventures, Tribe Capital, Shima Capital, Signum Capital and others. The seed round was also structured as a SAFT, Bear said. He …