According to Odaily incomplete statistics, from June 26th to July 2nd, a total of 24 blockchain financing events were announced domestically and internationally, which is the same as last week's data (24 events). The total disclosed financing amount is about 395 million US dollars, a significant increase compared to last week's data (125 million US dollars).
Last week, the project that received the most investment was the Islamic project Islamic Coin (200 million US dollars); in addition, game company Mythical Games attracted considerable attention with its impressive lineup of investors; Compound founder also established a new company Superstate entering the RWA field.
The following are specific financing events (Note: 1. Sorted according to the disclosed amount; 2. Excluding fundraising for funds and M&A events; 3. * means companies in "traditional" fields with some business involving blockchain):
On June 29, Islamic Coin, a cryptocurrency project that complies with Islamic law, announced a $200 million investment from digital asset investment company ABO Digital, bringing the total funding for the project to $400 million.^
Islamic Coin also announced a partnership with British company DDCAP Group to develop several Web3 solutions for Islamic finance. Islamic Coin described its goal as "building a financial platform that changes the rules of the game by combining the ethics and traditions of Islamic finance".
According to reports, Islamic Coin is built on its own Haqq blockchain and aims to strictly adhere to Islamic financial rules and traditions. Last year in August, Islamic Coin completed a $200 million private placement financing and claimed to have obtained approval from Fatwa (Islamic law precedent) for its cryptocurrency project. (Bitcoin.com)
On June 29th, game ad insertion company Anzu announced the completion of a $48 million Series B financing round. Emmis Corporation led the investment, with participation from PayPal Ventures, Evolution, Simon Equity Partners, Bandai Namco Entertainment 021 Fund, and others. The funds from this round will be used to expand cooperation with more AAA games and high-quality content providers.
According to previous reports, in March 2022, Anzu announced the completion of a $20 million financing round. NBCUniversal and HTC led the investment, with participation from Sony, WPP, Riot Games co-founder Marc Merrill, the Chicago Bears, and others. The funds from this round will be used to collaborate with HTC in building virtual reality products and expanding the team. It is reported that HTC is creating the Viverse metaverse. Itamar Benedy, co-founder and CEO of Anzu, stated that the company hopes to test new ad formats for use in the metaverse.
On June 27th, Web3 game development company Mythical Games completed a $37 million Series C financing round. The round was led by Scytale Digital and saw participation from new investors ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, as well as existing investors a16z, WestCap, Gaingels, Signum Growth, and Struck Capital. CEO John Linden stated that the terms of this financing round are similar to the Series C financing round in 2021. In addition to expanding the scale of games and user base, Mythical Games intends to use this funding to achieve profitability.
Furthermore, Mythical Games plans to conclude this financing round later this year with an additional $20-30 million. The company raised $150 million in financing in 2021 and an additional $50 million in January of this year, reaching a valuation of $1.25 billion at that time.
Mythical Games' most popular games include NFL Rivals and Blankos Block Party, both of which were launched on the Epic Games Store in September 2022. Last year, the company attracted over 2.5 million new users and achieved daily sales of $1 million. (The Block)
On June 28th, Austrian cryptocurrency company Bitpanda's subsidiary Bitpanda Pro completed a €30 million Series A financing round. Leading the round was Valar Ventures, under Peter Thiel, with participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures.
It is reported that Bitpanda Pro, which targets institutions and professional traders, has been spun off into an independent company named One Trading, led by Josh Barraclough, former head of digital innovation at JPMorgan Chase. Bitpanda will retain its ownership stake in the company.
Barraclough joined Bitpanda in October 2021 to oversee the operation of the Pro product. He stated that One Trading will soon launch "the fastest and most scalable cryptocurrency exchange".
He added that in the future, One Trading will shift towards derivatives business and therefore will introduce more products with appropriate controls and scrutiny, as a compliant institutional-grade platform to serve its users. (The Block)
On June 29th, virtual insurance company OneDegree announced the completion of a new round of $27 million financing with participation from Gobi Partners, New World Development, Bitrock, and new investors. This round of funding will be used for the expansion of its digital asset insurance portfolio. This is the fifth financing round since the company's establishment in 2016, with a total raised amount exceeding $97 million, following the $28 million financing round in 2021.
It is reported that OneDegree first launched cryptocurrency insurance in November 2021, providing HKD 100 million in insurance for cryptocurrency exchanges in Hong Kong.
"Web3+" Fintech Company Velo Labs Completes $10 Million Financing, Led by DWF Labs
On June 26th, Fintech company Velo Labs announced the completion of a $10 million financing, led by DWF Labs.
Velo Labs primarily utilizes blockchain technology to create a compliant financial ecosystem. The funds will be used to develop its "Web3+" financial ecosystem and promote the trustless, formless, borderless, and unrestricted flow of assets worldwide.
Velo Labs' products and services include multi-asset trading on Universe and the upcoming encrypted payment super application Orbit.
On June 29th, blockchain analytics company CryptoQuant's developer Team Blackbird completed an $8.5 billion KRW (approximately $6.46 million) Series A financing, bringing its total funding to 12 billion KRW. Atinum Investment led this investment, with participation from IMM Investment, SK, Base Investment, and HillSpring Investment. The funds from this round will be used to advance their business development, attract talent, and conduct large-scale recruitment in various functional areas such as development, planning, marketing, and human resources.
On June 27th, Web3 game studio Pixion Games completed a $5.5 million seed funding round, with participation from Avalanche Foundation's Blizzard Fund, Shima Capital, and ReadyPlayerDAO.
Pixion plans to use the new funding to continue developing its flagship role-playing action game, "Fableborne." It allows players to interact with on-chain assets based on the Avalanche network and is currently inviting players to participate in testing, with a target release date next year.
Pixion Games founder and CEO Kam Punia expressed his hope to advance the game's development by establishing a technology stack. Additionally, their leadership team is currently hiring new employees. (CoinDesk)
Web3 document management SaaS provider ShelterZoom completes $5 million funding
On June 28th, Web3 document management SaaS provider ShelterZoom completed a $5 million funding round, with the investors yet to be disclosed. To date, ShelterZoom's total funding exceeds $17.5 million. The funds from this round will be used to expand into new markets and strengthen their Document GPS solution, establish a dedicated team for developing and implementing two healthcare-specific solutions, and expand their marketing efforts to drive growth.
ShelterZoom supports the tokenization of document content to protect ownership of original records, enabling businesses to track or revoke access to all sensitive data. The Document GPS Android app is currently available on Google Play. (FinSMEs)
On June 29th, NFT native bullish option protocol Hook Protocol announced the completion of a $3 million financing, with Collab+Currency and Lattice leading the investment. Slow, Sfermion, Maven 11, Contrary, as well as gmoney, jdh, Salvino D'Armati, Flamingo DAO, Neon DAO, and The LAO participated in this round of funding, which will be used to build the protocol. In addition, two new products, vBids and Hook Earn, were launched today, and the new incentive program, The Treasure Hunt, also went live.
On June 28th, Thai real estate investment company Avantis announced the completion of a 100 million Thai baht (approximately $2.83 million) Series A financing, led by J Ventures Company Limited (JVC) and Rende Development Company Limited.
Avantis said that the funds from this round of financing will support the launch of the digital asset tokenization platform SANGA. The platform will facilitate the issuance of digital land ownership contracts by converting them into virtual plots or NFTs. SANGA plans to expand into the digital banking sector in the second phase and is expected to launch within the next 1-2 years. (Bangkok Post)
On June 30th, zero-knowledge identity verification solution Outdid announced the completion of a $2.5 million seed funding round. Jump Crypto led the investment, with participation from Superscrypt and 15 angel investors including Matias Woloski, Martin Varsavski, and Gaston Frydlewski. The new funding will be used to expand operations and business scope.
Outdid provides a private identity verification tool that eliminates the data liability in online applications and services. It uses zero-knowledge proofs to verify government-issued documents without the involvement of intermediaries for verification and certification. This addresses the privacy and verifiability dilemma, allowing both Web3 and Web2 platforms to perform identity verification in a confidential manner. (FINSMES)
On June 29th, decentralized zero-trust data lake Mind Network announced the completion of a $2.5 million seed funding round. Participants in the funding round include Binance Labs, Comma 3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, and Mandala Capital.
Previously, Mind Network was selected for the fifth season incubation program of Binance Labs and the Chainlink BUILD program. Mind Network's strategic partners include Chainlink, Consensys, and Arweave.
Mind Network addresses key Web3 security challenges by offering data protection, smart contract, and AI solutions. It uses encryption mechanisms to secure sensitive information in L1/L2 chains, decentralized storage, and public clouds. By combining zero-knowledge proofs (ZKP) and adaptive fully homomorphic encryption (AFHE) technology, it enables individuals to have complete ownership and control over their own data. It also provides user-friendly integrated SDKs, IDEs, and pre-built development kits to lower the entry barrier for cryptography, allowing everyone to create and leverage their own private data lake.
On June 28, blockchain logistics startup RENATUS ROBOTICS announced the completion of a $2 million seed round financing, with participation from e-LogiT, an e-commerce logistics company, and corporate venture capital fund Dawn Capital.
RENATUS ROBOTICS is a logistics, robotics, and blockchain company that is developing logistical automation systems such as the RENATUS automated robot warehousing system. The installation of its commercial RENATUS system has already begun and is expected to start operating in the second quarter of 2024. (PRNewswire)
Web3 telecom service company Readiitel completes $2 million financing, led by 1 in 100 Ventures
On June 30, Web3 telecom service company Readiitel announced the completion of a $2 million financing round, led by 1 in 100 Ventures. The injection of new funds will help the company accelerate the launch of its Web3 internet service "Readii," through which users can earn cryptocurrency rewards.
It is reported that "Readii" uses a Web3-driven router that not only provides internet services but also supports storing encrypted private keys for seamless cryptocurrency transactions. Additionally, the service utilizes secure features such as Multi-Party Computation (MPC) to ensure the keys are not stolen or lost.
On June 28th, according to official sources, DeFi collateral protocol PWN announced the completion of over $2 million in financing, with participation from investors including StarkWare, Nethermind, Safe Ecosystem Foundation, Digital Finance Group, Jsquare, Patricio Worthalter (POAP), Christoph Jentzsch (founder of Slock.it), Danny Ryan, Tim Beiko (Ethereum Foundation), Alex Van de Sande (ENS delegate), Lefteris Karapetsas (founder of Rotki), and others.
These funds will support PWN in achieving its mission of decentralized digital asset collateral financing and launching a community-driven PWN DAO. PWN allows users to invest NFTs or any tokens as collateral, receive fixed interest loans, and generate returns. The PWN DAO is responsible for overseeing the operation of PWN protocols and related tools developed by the team (such as PWN Safe or token bundler).
PWN DAO is committed to improving the accessibility of PWN, including developing additional features, expanding deployment to other EVM-compatible chains, enhancing collateral valuation, and allowing more customizable lending processes.
In addition, PWN's goal is to continue supporting community activities and hackathons to promote innovation and lower the barriers for new users to use DeFi.
DeFi protocol AlloyX completes $2 million financing with Hack VC as lead investor
On June 30th, DeFi protocol AlloyX completed a $2 million Pre-Seed round of financing, with Hack VC as the lead investor. Other participants include Circle Ventures, Digital Currency Group, Stratos, Lecca Ventures, MH Ventures, very early Ventures, Archblock, dao 5, Credix Finance, etc.
In addition, AlloyX has partnered with decentralized credit market Credix Finance to create a real-world asset vault. AlloyX's Vault combines Credix Finance's over-collateralized tokenized credit with tokenized US Treasury bonds smart contracts.
The Vault aims to provide protocols, DAOs, and institutional investors in the DeFi space with access to the liquidity of real-world assets. AlloyX claims that users can create custom strategies by combining tokenized US Treasury bonds with a range of real-world assets to balance their yield and risk preferences in the DeFi Vault.
AlloyX's first real-world asset Vault is scheduled to launch in early Q3 and plans to integrate with other DeFi protocols and introduce more investment Vaults later this year. (The Block)
On June 26, metaverse game platform AvatarLife completed a $1.5 million seed round financing led by Info Edge Ventures. The funds raised in this round will be used for product development, community building, and expanding their global team.
Info Edge Ventures is the investment division of Info Edge India Ltd, the parent company of Naukri.com. This is Info Edge Ventures' third investment in the gaming sector, having previously invested in fantasy esports platform Fanclash and VR-based toy manufacturer Mirana. (The Economic Times)
Blockchain data sharing platform Smarter Contracts completes $1.095 million financing
On June 30th, blockchain data sharing platform Smarter Contracts announced the completion of a $1.095 million financing, which was obtained from two private investors and a bonus won through the Amazon AWS Financial Technology Accelerator, supported by Vestbee.
Smarter Contracts owns a blockchain-based data sharing and user permission management platform called Pulse, which aims to promote more honest and open data sharing among enterprises, and also encourages customers to be more willing to share information for use by businesses. The new funds will be used to accelerate development plans, establish more strategic partnerships, and expand the team to continue supporting the development of the Pulse platform.
Web3 company SPYCE.5 completes €1 million financing, co-founder of IOTA David Sønstebø participates
On June 26th, blockchain and Web3 infrastructure startup SPYCE.5 announced the completion of a €1 million financing, with angel investors and co-founder of IOTA, David Sønstebø, participating.
SPYCE.5 provides sustainable blockchain and Web3 infrastructure, data, and digital identity-as-a-service, and helps businesses leverage the advantages of blockchain infrastructure and applications through scalable and user-friendly tools and Web3 plug-and-play platforms, making it easy for users to use decentralized and sustainable technology. (Arcticstartup)
On June 29th, AI-based cryptocurrency market data analysis service provider BullBear AI announced the completion of a $1 million financing, with participation from PolkaBridge Ventures. The new funds will be used for market expansion in new regions. BullBear AI's tools can predict market volatility trends based on cryptocurrency industry data, user behavior, and price behavior.
On June 27th, according to official sources, NFT startup Tegro completed its seed round funding with a valuation of $100 million. Polygon Ventures and other private investment institutions participated, and the funding amount has not been disclosed.
It is reported that Tegro is an NFT-20 exchange founded by Siddharth Menon, former co-founder of the cryptocurrency exchange WazirX, and Ashish Rawat, founder of the fitness startup OGA Fit. Tegro supports users to conduct batch NFT transactions on Ethereum, Polygon, and other EVM-compatible chains. It also provides users with trading tools and technical services. The company has revealed that it will announce some "major partnership relationships" and "airdrop activities" for the community in the coming months.
Compound Founder's New Company Superstate Completes Seed Round Funding, ParaFi Capital Participates, and the project that received the most investment is the Islamic project Islamic Coin, with a financing amount of $200 million.
On June 27th, Compound founder Robert Leshner announced the establishment of his new company Superstate, which has completed its seed round funding. The specific funding amount has not been disclosed. This round of funding was participated by ParaFi Capital, 1kx, Cumberland, CoinFund, and Distributed Global.
It is reported that Superstate aims to create regulated financial products that connect traditional markets and the blockchain ecosystem. It will use the Ethereum blockchain as an auxiliary recording and storage tool to create a short-term government bond fund. The team has submitted a preliminary prospectus for the Superstate short-term government bond fund to the U.S. Securities and Exchange Commission on Monday.
On June 27th, Mazzuma, an AI-based Web3 smart contract generator, announced the completion of a new round of financing, with Adaverse, a Cardano ecosystem investment institution, participating. The specific amount of financing has not been disclosed. The new funds will be used to launch its new product, MazzumaGPT.
Based in Ghana, Africa, Mazzuma aims to use AI technology to support developers in seamlessly generating smart contract codes for Web3 decentralized applications, thereby accelerating the creation and deployment of blockchain smart contracts. (Disrupt Africa)
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