Gauntlet closes $125M Series C with SBI Holdings as sole backer
DeFi & Yields ·
The DeFi risk management platform secured the funding round as it shifts focus toward vault curation for crypto yield strategies.
Gauntlet has completed a Series C financing round totaling $125 million, with SBI Holdings acting as the only investor in the round, according to The Block. The company, associated with Tarun Chitra, operates in the space of on-chain risk infrastructure and has built its reputation on analytics tools used across decentralized finance protocols.
The capital injection comes as Gauntlet moves beyond its original analytics-focused business into curating vaults designed for crypto yield strategies, a shift described in coverage of the deal. This pivot places the company closer to the operational side of DeFi products rather than solely providing measurement and risk assessment services to other protocols.
Chitra has said he anticipates that tokenization efforts combined with vault-based products will push growth in the broader DeFi market at a pace exceeding that of stablecoin expansion in the coming years, a projection noted in reporting from The Block. That outlook underpins the rationale for SBI's investment, positioning Gauntlet's vault infrastructure as a bet on tokenized assets becoming a larger share of on-chain activity.
Additional coverage from Fortune frames the raise within the context of Gauntlet's broader transition from a pure risk-analytics provider into a curator of yield-generating vault products, suggesting the company is expanding its role within the DeFi stack rather than remaining a backend service layer.
Reporting on the round has varied slightly on the exact figure, with some accounts citing $130 million rather than $125 million, though the sole-investor structure involving SBI Holdings is consistent across descriptions of the deal. Four distinct sources have covered the financing, reflecting notable attention to institutional capital entering DeFi risk and vault infrastructure.
What remains unclear is how quickly Gauntlet's vault products will scale relative to its existing analytics business, and whether the tokenization-driven growth Chitra anticipates will materialize within the timeframe he described. The precise terms of the round, including valuation, have not been disclosed in available reporting.