According to Foresight News, Ithaca Finance, a composable options protocol, has completed a $2.5 million pre-seed funding round. The round was led by Cumberland and Wintermute Ventures, with participation from Room40 Ventures, Ghaf Capital Partners, and angel investors including DARMA Capital co-founder Andrew Keys and Axelar co-founder Georgios Vlachos.

Ithaca Finance has launched on the Arbitrum testnet and will only invite selected participants before fully launching its mainnet later this quarter.