According to incomplete statistics from Odaily, a total of 34 domestic and overseas blockchain financing events were announced from February 26 to March 3, an increase from last week’s data (30 cases). Total disclosed funding was approximately $180 million, down from last weeks figure ($257 million).
Last week, the project that received the largest amount of investment was Web3 infrastructure layer Avail (USD 27 million); the liquidity re-pledge protocol ether.fi also followed closely (USD 27 million).
The following are specific financing events (Note: 1. Sorted according to the announced amount; 2. Excludes fund raising and mergers and acquisitions; 3. *Represents companies in the traditional field where some businesses involve blockchain):
On February 26, Web3 infrastructure layer Avail announced the completion of a $27 million seed round of financing, led by Founders Fund and Dragonfly, with participation from SevenX Ventures, Figment, Nomad Capital and several angel investors. Avail will use the new financing to accelerate the development of three core products on its platform, DA, Nexus and Fusion. These core components that make up Avail Trinity will enable the network to accelerate Web3 unification.
Liquidity re-hypothecation protocol ether.fi announces completion of $27 million in financing
On February 28, the liquidity re-hypothecation protocol ether.fi announced the completion of US$27 million in financing. This round of financing was led by Bullish and CoinFund, and was supported by more than 95 investors.
On February 27, the encrypted fantasy sports platform Monkey Tilt announced the completion of US$21 million in financing, with participation from Polychain Capital, Hack VC, Poker Go, Accomplice, Paper Ventures and Folius Ventures. It is reported that the company also announced that it will open in more than 20 states in the United States. Fantasy gaming platform MTFantasy is launched, with a beta version coming soon.
On February 28, the Backpack.exchange exchange and its ecological project announced the completion of strategic financing of US$17 million, with a valuation reaching US$120 million. This round of financing was led by Placeholder, with participation from Hashed, Wintermute, Amber Group, Robot Ventures, Selini, Delphi Digital and others.
Ethereum expansion project Taiko completes $15 million in Series A financing
On March 3, Ethereum Layer 2 network Taiko completed a $15 million Series A financing. This round of financing was co-led by Lightspeed Faction, Hashed, Generative Ventures and Token Bay Capital, and included Wintermute Ventures, Flow Traders, Amber Group, OKX Ventures and GSR and others participated in the investment.
MXC announces completion of $10 million in financing, led by JDI Ventures
On February 26, according to official news, MXC announced that it had received $10 million in strategic investment, led by JDI Ventures, a DePIN-focused investment fund under blockchain hardware manufacturer JDI Global.
The MXC team was founded in 2017 and is headquartered in Berlin, Germany. It has been committed to the development of the DePIN field. The team has launched the Layer 3 zkEVM solution on Arbitrum, with the vision of becoming the DePIN infrastructure for the Ethereum ecosystem.
Blockchain platform Initia completes US$7.5 million in financing, led by Delphi Ventures and Hack VC
On February 27, the blockchain platform Initia announced the completion of US$7.5 million in financing. Delphi Ventures and Hack VC jointly led the investment, Nascent, Figment Capital, Big Brain and A.Capital, as well as anonymous cryptocurrency traders Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes and WSB Mod, angel investors including Celestia COO Nick White participated in the investment.
On February 29, the Bitcoin pledge L1 project BounceBit completed a US$6 million seed round of financing. This round of financing was jointly led by Blockchain Capital and Breyer Capital, and included dao 5, CMS Holdings, Bankless Ventures, NGC Ventures, Matrixport Ventures, DeFiance Capital, OKX Ventures and HTX Ventures participated in the investment, and individual investors include EigenLayer Chief Strategy Officer Calvin Liu.
On February 27, Web3 data flow and infrastructure company Validation Cloud announced the completion of US$5.8 million in financing, led by Cadenza Ventures, with participation from Blockchain Founders Fund, Bloccelerate, Blockwall, Side Door Ventures, Metamatic, GS Futures and AP Capital. Validation Cloud has built a proprietary system architecture to provide users with pledge, node API and data services, aiming to connect enterprise and institutional users to Web3 through a fast, scalable and intelligent platform.
On February 28, Australian blockchain fashion technology company BlockTexx announced the completion of A$7 million (approximately US$4.57 million) Series B financing, with participation from global alternative investment management company Artesian Investments. BlockTexx builds a blockchain marketplace that connects textile manufacturers, retail brands, and logistics providers to support mixed textile resource recycling.
On March 1, the decentralized reputation protocol OpenRank development team Karma 3 Labs announced the completion of US$4.5 million in financing, led by Galaxy and IDEO CoLab Ventures, with participation from Spartan, SevenX Ventures, HashKey, Flybridge, Delta Fund, Draper Dragon and Compa Capital. cast. OpenRank works to increase user trust in Web3 primarily through ratings and recommendations, and the new funding will be used to drive adoption of its product and help launch an initial version of the protocol for developers to use.
Silence Laboratories raises $4.1 million, led by Pi Ventures and Kira Studio
On February 29, encryption security company Silence Laboratories announced the completion of US$4.1 million in financing, with Pi Ventures and Kira Studio co-leading the investment. Silence Laboratories has raised a total of US$6 million in financing and will use this round of financing to expand its team and strengthen its RD pipeline.
Blockchain data analytics company Octav completes US$4 million in strategic financing
On February 29, according to official news, the blockchain data analysis company Octav announced the completion of a strategic investment of US$4 million, led by a high-net-worth individual in the encryption field, but the specific investor information has not yet been disclosed. Currently, Octav is mainly focused on using machine learning technology to unlock the potential of on-chain data to improve the accuracy of data annotation and classification.
On February 28, blockchain game infrastructure company READYgg completed US$4 million in financing, with participation from Delphi Digital, NeoTokyo, Merit Circle, Momentum 6, Purechain Capital, Alex Becker and Token Metrics Ventures. The valuation was not disclosed.
It is reported that the new funds will be used to help expand the startup’s business development efforts to cover more regions around the world, introduce more engineers to help develop the crypto gaming economy, and help launch “player-centered communities.”
DePIN project Geodnet completes US$3.5 million in financing, led by North Island Ventures
On February 26, DePIN project Geodnet completed US$3.5 million in financing, led by North Island Ventures, with participation from Modular Capital, Road Capital, Tangent, Reverie, and existing investors Borderless and IoTeX.
Geodnet is a community-based DePIN project, and anyone can contribute to the network by installing and operating Satellite Miner.
On February 26, the AI blockchain platform Talus Network announced the completion of a first-round financing of US$3 million, led by Polychain Capital, dao 5, Hash 3, TRGC, WAGMI Ventures and Inception Capital, as well as investors from Nvidia, IBM, Blue 7, Symbolic Angel investors from major technology and blockchain companies including Capital and Render Network participated.
On March 2, the RIFT Foundation announced the completion of US$3 million in strategic financing, with participation from Web3 and game content creators such as Alex Becker, FaZe Banks, and ElliotTrades, as well as funds and community institutions including Citizen Capital, SwissBorg, XBorg, and MH Ventures. It is reported that the new funds will be used to support the ChronoForge game ecosystem. ChronoForge is a multiplayer action role-playing game based on Immutable and Raid. It has recently reached a cooperation with MON Protocol.
Sui ecological lending protocol Scallop raises US$3 million, co-led by THE CMS and 6MV
On March 3, Sui ecological lending protocol Scallop announced the completion of US$3 million in strategic financing, co-led by THE CMS and 6 MV, KuCoin Labs, 7 UpDAO, Side Door Ventures, Oak Grove Ventures, Signum Capital, Blockchain Founders Fund, Cypher Capital Group, Mysten Labs, Kyros Ventures and others participated in the investment.
zk-Native protocol QED completes US$3 million in financing, led by Arrington Capital
On March 27, the zk-Native blockchain protocol QED announced the completion of US$3 million in financing, led by Arrington Capital, with participation from many well-known venture capital companies such as Starkware, Draper Dragon, Blockchain Builders Fund and Lbk Labs. This financing will help QED promote innovation in the Bitcoin ecosystem and provide more innovative solutions.
On March 1, Singapore-based Web3 development tool BuildBear Labs announced the completion of US$1.9 million in financing. Superscrypt, Tribe Capital and 1kx led the investment, with participation from Iterative, Plug-N-Play, and angel investors including Typechain and DethCrypto founders Kris Kaczor and Ken Fromm. BuildBear Labs plans to use the funding to accelerate the development of its flagship platform, which provides developers with testing and verification solutions to create secure decentralized applications.
On March 2, Open Asset, a token asset financial technology company, announced the completion of a seed round of approximately US$1.7 million in financing, with participation from Hana Ventures, Korea Investment Partners and Mashup Ventures. Open Asset plans to use the new financing to recruit outstanding talents in business development, sales, service planning, front-end development and other fields.
It is reported that Open Asset is advancing solutions to enable financial institutions to easily and effectively adopt blockchain and trade token assets.
PlayMakers completes US$1.5 million in Pre-Seed round of financing, led by RockawayX
On February 27, Web3 game user-generated content startup PlayMakers announced the completion of a $1.5 million Pre-Seed round of financing, led by RockawayX and participated by angel investors such as Sébastien Borget, Vincent Hart de Keating and Hugues Ouvard.
On March 3, Fair Math, a developer of fully homomorphic encryption privacy protection technology, announced the completion of a $1.4 million Pre-Seed round of financing, led by gumi Cryptos Capital, Inception Capital and Polymorphic Capital.
On March 2, Web3 security startup CredShields announced the completion of a US$1 million strategic round of financing, with Draper Associates participating. Currently, the company mainly provides Web3 security services, providing solutions to protect digital assets and ensure the integrity of blockchain-based transactions. The new funds will be used to accelerate the development of SolidityScan, an automated and simplified smart contract audit tool.
On February 26, Layer 1 blockchain 5 ireChain completed “million-dollar” financing, with hedge fund Gotbit Hedge Fund participating. The specific amount has not yet been disclosed. This investment aims to attract developers and promote the application of decentralized applications on the 5ireChain chain, and focuses on projects in the fields of multi-chain projects, EVM compatibility, RWA, etc. It is reported that 5ireChain plans to use the new funds to accelerate ecosystem innovation.
On February 27, the trustless full-chain ledger protocol Cycle Network announced that it had completed a multi-million-dollar first round of financing. The specific amount has not yet been disclosed. Temasek Holdings Vertex Ventures and Summer Ventures led the investment, LTP, Super Chain Capital, GSG Digital and others participated in the investment. Cycle Network has launched a solution to the interoperability problem in the blockchain field. Through its innovative fully distributed ledger technology (ODLT), it introduces a trustless method of interactive information to the blockchain and solves the problem of blockchain network the problem of fragmentation.
Pantera Capital announces investment in Morpho Labs, a DeFi lending protocol backed by a16z
On February 28, crypto investment institution Pantera Capital announced its investment in DeFi lending protocol Morpho Labs on the X platform. The specific amount has not yet been disclosed.
In 2022, Morpho completed $18 million in financing through native token sales, led by a16z and Variant, with participation from Nascent, Semantic Ventures, Cherry Crypto, Mechanism Capital, Standard Crypto and Coinbase Ventures.
Humanity Protocol completes strategic financing, Hashed and others participated in the investment
On February 28, according to official news, Humanity Protocol announced the completion of strategic financing. More than 20 institutions including Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital participated in the investment. The specific amount was not disclosed.
Funds from this round of financing will be used to accelerate the development and deployment of Humanity Protocol, improve its scalability, efficiency and user accessibility, and prepare for the upcoming testnet launch.
On February 29, this February, PredX announced the completion of a Pre-seed round of financing, led by Penrose Tech and participated by Mulana ventures. PredX is currently raising a seed round of financing with a valuation of US$20 million. Financing funds will be used to train AI to adapt to the Prediction Market and build a global community.
Cetus, a DEX based on Sui and Aptos, received strategic investment from Sui Foundation
On February 29, Cetus, a DEX and liquidity protocol based on Sui and Aptos, announced on the X platform that it had received strategic investment from the Sui Foundation. The specific amount was not disclosed.
In May last year, Cetus announced the completion of a seed round of financing, led by OKX Ventures and KuCoin Ventures, with participation from Comma 3 Ventures, NGC Ventures, Jump Crypto, Animoca Ventures, IDG Capital, Leland Ventures, AC Capital, Adaverse, Coin 98 Ventures, etc. .
On February 29, LinkTo, a Web3 traffic aggregation marketing platform, announced the completion of a seed round of financing from investment institutions including Adaverse, Ruby Capital, Warrior Wealth Fund, BitValue Capital and Block Infinity Limited.
On February 29, Singapore-based Web3 entertainment company Imaginary Ones announced the completion of a new round of financing, with participation from Cypher Capital, Animoca Brands, ED 3 N Ventures and MH Ventures, but the specific financing funds have not yet been publicly disclosed. According to previous news, iQiyi Vice President Kuek Yu-Chuang is a new investor and advisor of Imaginary Ones. Imaginary Ones will also cooperate with the international fashion brand HUGO BOSS in 2023 to create a virtual universe experience.
On March 1, Blast ecological DeFi project Ring Protocol announced the completion of a pre-seed round of financing, with participating investors including Manifold Trading, Continue Capital, Synergiscap, m 0x Capital, C L2 07, DefiSquared and Bored Chili.
OKX Ventures announces additional investment in Ethereum second-layer network Taiko
On March 3, according to official news, OKX Ventures announced additional investment in Taiko, the second-layer Ethereum network. Taiko is a decentralized Type-1 ZK-EVM. Since 2022, Taiko has successfully run six testnets, has over 1,100,000 unique wallets, over 30,000 proposers, and over 14,000 validators, supporting over 100 live applications .
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