Highlights of this Issue
According to PANews incomplete statistics, there were 28 blockchain investment and financing events worldwide last week (9.9-9.15), with a total fund size exceeding $218 million. Both the fund size and the number of transactions have increased significantly. An overview is as follows:
- DeFi: There were 7 investment and financing events in the DeFi sector. Among them, the DeFi abstraction platform Infinit completed a $6 million financing, with Electric Capital participating.
- Web3 Games: There were 3 investment and financing events in the Web3 games track. Nytro Lab, a Web3 game developer, completed an $8 million financing, with SevenX Ventures leading.
- DePIN: There were 4 investment and financing events in the DePIN field. Fuse raised $12 million for renewable energy DePIN projects, with Multicoin Capital leading.
- Infrastructure and Tools: There were 5 financing events in the infrastructure and tools track. The Web3 operating system Fountain completed a $3.5 million seed round financing, with Foundation Capital participating.
- Other Blockchain/Crypto Applications: There were 6 financing events in other blockchain/crypto applications. Decentralized music streaming platform Tune.fm raised $50 million, with Animoca Brands participating.
- Centralized Finance: There were 2 financing events in the centralized finance field. The Singapore digital asset exchange SDAX completed a $50 million B2 round financing, with MPMR leading.
DeFi
DeFi abstraction platform Infinit completes $6 million financing, with Electric Capital participating
The DeFi abstraction platform Infinit completed a $6 million financing, with Electric Capital, Mirana Ventures, Hashed, Arthur Hayes' family office Maelstrom, Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs participating. The new funds will be used to enhance its infrastructure and provide a smoother service experience for DeFi protocol builders.
Ammalgam completes $2.5 million seed round financing, with Framework Ventures leading
The decentralized lending exchange (DLEX) Ammalgam announced the completion of a $2.5 million seed round financing, with Lightspeed Faction and Framework Ventures co-leading. Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, as well as angel investors Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander participated. The new funds will be used to drive the growth and development of the protocol, including expanding the core talent team and product development.
Eigenpie completes seed round financing, with Arbitrum Foundation, PancakeSwap participating
The Ethereum liquidity re-staking protocol Eigenpie announced strategic investment and completed seed round financing, with the specific amount undisclosed. Arbitrum Foundation, Robot Ventures, PancakeSwap, Relayer Capital, and Bitget CEO Gracy Chen, Frax Finance founder Sam Kazemian, Zircuit co-founder Angel Xu, and GMX core contributor coinflipcanada participated. The new financing will support the long-term development of EigenLayer liquidity re-staking.
Solana ecosystem DeFi project Carrot completes $600,000 Pre-Seed round financing, with BOOGLE participating
The Solana ecosystem DeFi project Carrot announced the completion of a $600,000 Pre-Seed round financing, with BOOGLE, DKS Ventures, and angel investors such as Dead King Society and Retired Chad Dev participating. It was reported that Carrot's TVL has exceeded $2 million within two weeks of its launch, with a focus on simplifying the DeFi user experience.
BTC ecosystem protocol BTA Protocol completes A+ round financing, with Crypto Labs leading
BTC ecosystem protocol BTA Protocol announced the completion of A+ round financing, led by Crypto Labs, with Cityblok, BlackBridge, and others participating. The financing amount was not disclosed. BTA Protocol is a decentralized ecosystem protocol based on BTC, with staking, liquidity, range stability, launch pool, and lending protocols. BTA Protocol will launch X Layer at the end of September.
Cross-rollup order book DEX Zada Finance completes new round of financing, with Cryptia Capital participating
The cross-rollup order book DEX Zada Finance, built on Scroll, announced the completion of a new round of financing, with Cryptia Capital, NovaSeed Ventures, Pulse Capital, Axium Partners, Digitata Capital, Hivemind Ventures, and others participating. The specific amount and valuation information have not been disclosed. It is reported that the new funds will drive its transition from an AMM DEX to an order book model, and will also explore Layer3 solutions and account abstraction to improve user experience, aiming to aggregate liquidity between different Rollups and solve fragmentation issues through cross-rollup solutions.
Derivatives trading platform Derive completes angel round financing
The derivatives trading platform Derive (formerly Lyra) announced the completion of angel round financing, with DCFGOD, EtherFi co-founder Rok Kopp, SPREEK, and others participating. Derive is a decentralized cryptocurrency options and perpetual contract trading platform that supports various financial applications and products for integrators, traders, and institutions.
Web3 Games
Web3 game developer Nytro Lab completes $8 million financing, with SevenX Ventures leading
Web3 game developer Nytro Lab announced the completion of an $8 million financing, with SevenX Ventures leading, and institutional investors such as OKX Ventures, Aptos Labs, and HashKey Capital participating. As of now, its total financing amount has reached $25 million. It was reported that Nytro Lab also announced that its developed Roguelike RPG game Castile will launch a one-month public test and distribute 10 million CAST before the actual token issuance.
RON ecosystem game platform Moku completes $5.35 million financing, with Sky Mavis leading
The RON ecosystem game platform Moku announced the completion of a $5.35 million financing on X platform, with Sky Mavis, A16Z GAMES, and A16Z GAMES SPEEDRUN leading, and Arca, Framework Ventures, 32-Bit Ventures, and others participating. The team is committed to giving publishing power to game players and creators.
Orange Cap Games completes $2 million angel round financing, with Igloo Group, the parent company of Fat Penguin, participating
Highlights of this Issue
According to PANews incomplete statistics, there were 28 blockchain investment and financing events worldwide last week (9.9-9.15), with a total fund size exceeding $218 million. Both the fund size and the number of transactions have increased significantly. An overview is as follows:
- DeFi: There were 7 investment and financing events in the DeFi sector. Among them, the DeFi abstraction platform Infinit completed a $6 million financing, with Electric Capital participating.
- Web3 Games: There were 3 investment and financing events in the Web3 games track. Nytro Lab, a Web3 game developer, completed an $8 million financing, with SevenX Ventures leading.
- DePIN: There were 4 investment and financing events in the DePIN field. Fuse raised $12 million for renewable energy DePIN projects, with Multicoin Capital leading.
- Infrastructure and Tools: There were 5 financing events in the infrastructure and tools track. The Web3 operating system Fountain completed a $3.5 million seed round financing, with Foundation Capital participating.
- Other Blockchain/Crypto Applications: There were 6 financing events in other blockchain/crypto applications. Decentralized music streaming platform Tune.fm raised $50 million, with Animoca Brands participating.
- Centralized Finance: There were 2 financing events in the centralized finance field. The Singapore digital asset exchange SDAX completed a $50 million B2 round financing, with MPMR leading.
DeFi
DeFi Abstraction Platform Infinit Completes $6 Million Financing, with Electric Capital Participating
The DeFi abstraction platform Infinit completed a $6 million financing, with Electric Capital, Mirana Ventures, Hashed, Arthur Hayes' family office Maelstrom, Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs participating. The new funds will be used to enhance its infrastructure and provide a smoother service experience for DeFi protocol builders.
Ammalgam Completes $2.5 Million Seed Round Financing, with Framework Ventures Leading
The decentralized lending exchange (DLEX) Ammalgam announced the completion of a $2.5 million seed round financing, with Lightspeed Faction and Framework Ventures co-leading. Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, as well as angel investors Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander participated. The new funds will be used to drive the growth and development of the protocol, including expanding the core talent team and product development.
Eigenpie Completes Seed Round Financing, with Arbitrum Foundation, PancakeSwap Participating
The Ethereum liquidity re-staking protocol Eigenpie announced strategic investment and completed seed round financing, with the specific amount undisclosed. Arbitrum Foundation, Robot Ventures, PancakeSwap, Relayer Capital, and Bitget CEO Gracy Chen, Frax Finance founder Sam Kazemian, Zircuit co-founder Angel Xu, and GMX core contributor coinflipcanada participated. The new financing will support the long-term development of EigenLayer liquidity re-staking.
Solana Ecosystem DeFi Project Carrot Completes $600,000 Pre-Seed Round Financing, with BOOGLE Participating
The Solana ecosystem DeFi project Carrot announced the completion of a $600,000 Pre-Seed round financing, with BOOGLE, DKS Ventures, and angel investors such as Dead King Society and Retired Chad Dev participating. It was reported that Carrot's TVL has exceeded $2 million within two weeks of its launch, with a focus on simplifying the DeFi user experience.
BTC Ecosystem Protocol BTA Protocol Completes A+ Round Financing, with Crypto Labs Leading
BTC ecosystem protocol BTA Protocol announced the completion of A+ round financing, led by Crypto Labs, with Cityblok, BlackBridge, and others participating. The financing amount was not disclosed. BTA Protocol is a decentralized ecosystem protocol based on BTC, with staking, liquidity, range stability, launch pool, and lending protocols. BTA Protocol will launch X Layer at the end of September.
Cross-rollup Order Book DEX Zada Finance Completes New Round of Financing, with Cryptia Capital Participating
The cross-rollup order book DEX Zada Finance, built on Scroll, announced the completion of a new round of financing, with Cryptia Capital, NovaSeed Ventures, Pulse Capital, Axium Partners, Digitata Capital, Hivemind Ventures, and others participating. The specific amount and valuation information have not been disclosed. It is reported that the new funds will drive its transition from an AMM DEX to an order book model, and will also explore Layer3 solutions and account abstraction to improve user experience, aiming to aggregate liquidity between different Rollups and solve fragmentation issues through cross-rollup solutions.
Derivatives Trading Platform Derive Completes Angel Round Financing
The derivatives trading platform Derive (formerly Lyra) announced the completion of angel round financing, with DCFGOD, EtherFi co-founder Rok Kopp, SPREEK, and others participating. Derive is a decentralized cryptocurrency options and perpetual contract trading platform that supports various financial applications and products for integrators, traders, and institutions.
Web3 Games
Web3 Game Developer Nytro Lab Completes $8 Million Financing, with SevenX Ventures Leading
Web3 game developer Nytro Lab announced the completion of an $8 million financing, with SevenX Ventures leading, and institutional investors such as OKX Ventures, Aptos Labs, and HashKey Capital participating. As of now, its total financing amount has reached $25 million. It was reported that Nytro Lab also announced that its developed Roguelike RPG game Castile will launch a one-month public test and distribute 10 million CAST before the actual token issuance.
RON Ecosystem Game Platform Moku Completes $5.35 Million Financing, with Sky Mavis Leading
The RON ecosystem game platform Moku announced the completion of a $5.35 million financing on X platform, with Sky Mavis, A16Z GAMES, and A16Z GAMES SPEEDRUN leading, and Arca, Framework Ventures, 32-Bit Ventures, and others participating. The team is committed to giving publishing power to game players and creators.
Orange Cap Games Completes $2 Million Angel Round Financing, with Igloo Group, the Parent Company of Pionex, Participating
DePIN
Fuse Raises $12 Million for Renewable Energy DePIN Projects, with Multicoin Capital Leading
Renewable energy company Fuse announced the completion of a $12 million strategic financing, with Multicoin Capital leading, bringing the company's total financing to $90 million to date. According to the press release, the company plans to use this funding to launch Project Zero, a renewable energy DePIN project: "As a comprehensive energy company, Fuse provides distributed energy (DER) installations, power trading, and retail electricity. The company currently manages 18 megawatts of renewable energy projects, with an additional 300 megawatts of renewable energy projects in preparation. Fuse Energy is a subsidiary of Fuse and is a vertically integrated electricity retailer."
AI Infrastructure Company PIN AI Completes $10 Million Seed Round Financing, with a16z Crypto Leading
Silicon Valley Web3 incubator YCubed announced that its project PIN AI completed a $10 million seed round financing, with a16z Crypto leading. PIN AI is an AI infrastructure company that is developing the world's first open-source personal intelligence network (PIN), aimed at transforming smartphones into privacy-focused personal AI assistants, allowing users to fully control and own their personal AI. YCubed is a Silicon Valley Web3 incubator focused on driving innovation in the intersection of AI and crypto, and will release more information about its projects in AI data and reasoning in the coming weeks.
DePIN Protocol Wingbits Completes $3.5 Million Seed Round Financing, with Borderless Capital and Tribe Capital Leading
Wingbits protocol, which creates a DePIN flight tracking network based on Solana, announced the completion of a $3.5 million seed round financing, with Borderless Capital and Tribe Capital leading, and Antler and several angel investors participating. The team stated: "Wingbits rewards the quality of data captured by antennas maintained by enthusiasts. Individuals are rewarded based on performance, coverage, and uptime, and there is a global leaderboard to compare the best-performing antennas. By the end of 2023, there were 40 nodes on the Wingbits platform, which has now increased to nearly 2000."
Decentralized Infrastructure Network Titan Network Completes Seed Round Financing, with Arrington Capital Leading
Decentralized infrastructure network Titan Network, a rising star in the DePIN field, announced the completion of seed round financing. This round of financing was led by Arrington Capital, with participation from DePINX and other well-known investment institutions. As an innovator in the decentralized infrastructure network field, Titan Network is committed to building an open, efficient, and secure digital resource network that matches community idle resources with global demand. This round of financing will further drive Titan Network's technological research and development and global market expansion in the DePIN field. Industry insiders speculate that due to the rapid growth in demand for decentralized solutions, the next trillion-dollar company may be a DePIN giant similar to Amazon AWS cloud services.
AI
AI and Data Project Grass Network Completes A Round Financing Led by Hack VC
According to sources, the AI and data project Grass Network completed a new round of financing, led by Hack VC, with participation from Polychain Capital, Delphi Digital, Lattice, and Brevan Howard Digital. The specific financing amount has not been disclosed.
Infrastructure & Tools
Blocksense Completes $4 Million Seed Round Financing, with Permutation Leading and a16z CSX Participating
Blocksense completed a $4 million seed round financing, led by Permutation, with participation from a16z's Crypto Startup Accelerator (CSX), Scott Moore, Public Works, Tykhe Block Ventures, Selini Capital, and MH Ventures. Blocksense is a Zk Rollup-based oracle solution that reduces high costs through tightly packed data blocks, introduces a transparent fee model, and provides fully decentralized, permissionless data feeds, aiming to fundamentally change the oracle network. Anyone can become a data provider on the network by staking BlockSense tokens, and nodes will automatically perform all reporting tasks by obtaining appropriate oracle scripts and broadcasting their results to the BlockSense network.
Web3 Operating System Fountain Completes $3.5 Million Seed Round Financing, with Foundation Capital Participating
Web3 operating system Fountain announced the completion of a $3.5 million seed round financing, with investors including Foundation Capital, Caladan, Primal Capital, and Druid Ventures. Fountain addresses the vulnerability of DeFi protocols to market fluctuations and risks by providing a smart contract multisignature platform with a no-code workflow builder. The platform enables companies to seamlessly manage and automate financial, risk management, and trading operations.
Ethereum Scaling Solution t1 protocol Completes $2.5 Million Pre-Seed Round Financing, with a16z CSX Participating
The Ethereum scaling solution t1 protocol completed a $2.5 million pre-seed round financing, with participation from a16z Crypto Startup School (CSX), Espresso, Frax, CowSwap, ETHGlobal, ENSO, INJECTIVE, and angel investors Guy Wuollet, AliYahya, and Eric Chen. t1 protocol is a fast finality scaling solution for Ethereum, supporting real-time proof generation to unify Ethereum.
Blockchain Technology Company Hyperbridge Completes $2.5 Million Seed Round Financing, with Web3 Foundation and Scytale Digital Leading
Blockchain technology company Hyperbridge announced the completion of a $2.5 million seed round financing, with Web3 Foundation and Scytale Digital leading. Hyperbridge utilizes Polkadot's architecture to open new possibilities for decentralized applications (DApps) and improve the scalability and efficiency of the Web3 ecosystem.
Edge Computing Open Layer Gradient Network Completes New Round of Financing, with Multicoin Capital Participating
Solana ecosystem edge computing open layer Gradient Network has completed a new round of financing, with the specific amount undisclosed. This round of financing was led by Multicoin Capital, Pantera Capital, and Sequoia Capital (Red Shirt). The vision of Gradient Network is to make computing services accessible to the public, allowing everyone to easily access them at a reasonable price. They firmly believe that edge computing will lead this transformation. In emerging use cases, artificial intelligence reasoning, content delivery, and serverless functions stand out, shaping the future of computing consumption.
Other
Decentralized music streaming platform Tune.fm raises $50 million, with participation from Animoca Brands
Decentralized music streaming platform Tune.fm announced a $50 million financing round, with participation from LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation, and GDA Capital, bringing the total financing to $80 million. The new funds will be used to provide liquidity for the protocol's JAM token, which is used on the platform to reward artists and users. The platform provides music streaming services through an integrated NFT marketplace. Artists earn small rewards for each second their music is played, and users can earn tokens by discovering and listening to new promoted songs. The platform is supported by the Hedera blockchain.
Solana-based creator platform DRiP completes $8 million seed round financing, led by Coinbase Ventures
Solana-based creator platform DRiP announced the completion of an $8 million seed round financing, with NFX, Coinbase Ventures, and Progression (a fund founded by former TikTok executives) leading, and participation from Placeholder, 6th Man Ventures, and over 30 angel investors. The valuation and financing structure have not been disclosed. The new funds will be used to accelerate the attraction of creators, launch a consumer-facing mobile application, expand the development of creator tools and platform functionality, and strengthen marketing efforts.
Solana-based mining project Ore establishes Regolith Labs and completes $3 million seed round financing
Solana-based mining project Ore announced the establishment of Regolith Labs and the completion of a $3 million seed round financing, led by Foundation Capital, with participation from Colosseum, Solana Ventures, B+J Studios, Dead King Society, and 3KVC. Regolith Labs aims to accelerate the development of the ORE ecosystem by introducing new proof-of-work mining primitives and a liquidity network on Solana, bringing millions of new users into the cryptocurrency space.
Wearable device developer Cudis, based on Solana, completes $5 million financing, led by Draper Associates
Wearable device developer Cudis, based on Solana, completed a $5 million financing round, led by Draper Associates. The team stated that this investment will increase the production of its ring product to 1 million units, posing a challenge to existing companies like Oura. Cudis ring uses the Solana blockchain to protect biometric data, provides gamified health challenges, and comes with a personalized AI coach, offering actionable insights and rewards for healthy behaviors.
Carbon-neutral blockchain platform Open Forest Protocol (OFP) completes seed round financing, led by Übermorgen Ventures
Carbon-neutral blockchain platform Open Forest Protocol (OFP) completed seed round financing, led by Übermorgen Ventures, with participation from BackBone Ventures, GS Futures, as well as Bloom Foundation, NEAR Foundation, and Foundation Valery. The specific financing amount has not been disclosed. The team stated, "OFP is a comprehensive digital reform of carbon credit verification and issuance, providing carbon developers with a zero upfront cost, open-source, web-based, and blockchain-based verification system, enabling them to bring transparent, verifiable, and valuable carbon credits to the market. This is crucial for the future of OFP's on-chain natural assets."
Web3 healthcare platform Universal Health Token (UHT) completes $1.2 million Pre-Seed round financing, led by Animoca Brands
The gamified healthcare platform Universal Health Token (UHT) completed a $1.2 million Pre-Seed round financing, led by Animoca Brands, Polygon Ventures, and Tezos Foundation. The team stated, "Universal Health Token gamifies preventive healthcare through blockchain, supported by GOQii. The platform is the Web3 branch of Goqii, which has recently surpassed 5 million global downloads on the app. UHT connects technology and healthcare, incentivizing individuals to rethink their habits and embrace a healthier lifestyle through exclusive NFTs, event access, and discounted health products."
Centralized Finance
Singapore digital asset exchange SDAX completes $50 million B2 round financing, led by MPMR
Singapore digital asset exchange SDAX completed a $50 million B2 round financing, led by Muscat Precious Metals Refining Company (MPMR). SDAX plans to use this financing to launch a digital asset exchange in Oman, with the goal of expanding into the Gulf and African markets. Additionally, SDAX collaborated with MPMR in April this year to launch a tokenized gold product, which is based on medium-term promissory notes and stores gold in Le Freeport, Singapore. It is reported that SDAX previously completed an $18 million B round financing in 2021, led by PSA International, Straits Trading Company, and New Horizon Global.
PayFi network protocol Huma Finance completes $38 million financing, led by Distributed Global
Huma Finance, a company focused on tokenizing real-world assets (RWA), recently completed a $38 million financing, including $10 million in equity investment and $28 million in revenue-generating RWA. This round of financing was led by venture capital firm Distributed Global, with participation from Hashkey Capital, Folius Ventures, Stellar Development Foundation, and TIBAS Ventures, the venture capital arm of Turkey's largest private bank, İşbank. The Stellar Development Foundation invested $10 million in the RWA portion, becoming the largest participant. Huma Finance plans to use this funding to expand its PayFi platform to the Solana blockchain and Stellar's Soroban smart contract network. The company's merger with Arf is expected to achieve $10 billion in PayFi transaction volume next year.
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