According to incomplete statistics from Odaily Star Daily, there were a total of 23 blockchain financing events announced both domestically and internationally from September 9th to September 15th, which is an increase from the previous week's 19 events. The disclosed total financing amount is approximately $212 million, a significant increase from the previous week's $40.74 million.
Last week, the projects that received the most funding were the decentralized music streaming platform Tune.fm ($50 million) and the Singapore digital asset exchange SDAX ($50 million).
The specific financing events are as follows (Note: 1. Sorted by the disclosed amount; 2. Excluding fund-raising and M&A events; 3. * indicates "traditional" companies with some business involving blockchain):
On September 12th, the 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 JAM token of the protocol, which is used to reward artists and users on the platform.
On September 12th, the Singapore digital asset exchange SDAX completed a $50 million Series B financing round, 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.
Huma Finance, an RWA project, raised $38 million, led by Distributed Global
On September 11th, Huma Finance, a company focusing on tokenizing real-world assets (RWA), completed a $38 million financing round, including $10 million in equity investment and $28 million in revenue-based RWA. This round of financing was led by the venture capital firm Distributed Global, with participation from Hashkey Capital, Folius Ventures, Stellar Development Foundation, and the risk investment department of Turkey's largest private bank, İşbank, TIBAS Ventures. Stellar Development Foundation invested $10 million in the RWA section, 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 a $10 billion payment financing transaction volume next year.
Fuse raised $12 million for its renewable energy DePIN project, led by Multicoin Capital
On September 13th, the renewable energy company Fuse announced the completion of a $12 million strategic financing round, led by Multicoin Capital, bringing the company's total financing to $90 million.
On September 10th, YCubed, a Silicon Valley Web3 incubator, announced that its Portfolio project PIN AI completed a $10 million seed financing round, led by a16z Crypto. 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 assistants, allowing users to fully control and own their personal AI. YCubed is a Silicon Valley-based Web3 incubator focused on driving innovation in the intersection of AI and encryption, and will release more information on its projects in AI data and reasoning fields in the coming weeks.
On September 9th, the Solana ecosystem creator platform DRiP announced the completion of an $8 million seed financing round, led by NFX, Coinbase Ventures, and Progression (a fund founded by former TikTok executives), with 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 consumer-facing mobile applications, expand the development of creator tools and platform functionality, and strengthen marketing efforts.
Nytro Lab, a Web3 game developer, raised $8 million, led by SevenX Ventures
On September 10th, Web3 game developer Nytro Lab announced the completion of an $8 million financing round, led by SevenX Ventures, with participation from OKX Ventures, Aptos Labs, HashKey Capital, and other institutions, bringing its total financing to $25 million. Nytro Lab also announced that its developed game, Castile, a Roguelike RPG, will launch a one-month public test and distribute 10 million CAST tokens before the actual issuance.
On September 12th, the DeFi abstraction platform Infinit completed a $6 million financing round, with participation from Electric Capital, Mirana Ventures, Hashed, Maelstrom (Arthur Hayes' family office), Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs. The new funds will be used to enhance its infrastructure and provide a smoother service experience for DeFi protocol builders.
Moku, an RON ecosystem gaming platform, raised $5.35 million, led by Sky Mavis
On September 10th, the RON ecosystem gaming platform Moku announced the completion of a $5.35 million financing round on the X platform, led by Sky Mavis, A16Z GAMES, and A16Z GAMES SPEEDRUN, with participation from Arca, Framework Ventures, 32-Bit Ventures, and others. The team is committed to giving publishing power to game players and creators.
On September 10th, according to official sources, Blocksense completed a $4 million seed financing round, 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.
On September 12th, Wingbits, the DePIN flight tracking network based on Solana, announced the completion of a $3.5 million seed financing round, led by Borderless Capital and Tribe Capital, with participation from Antler and several angel investors.
The team stated, "Wingbits rewards the quality of data captured by antennas maintained by enthusiasts. Individuals are rewarded based on performance, coverage, and normal operating time, 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."
On September 10th, the Web3 operating system Fountain announced the completion of a $3.5 million seed financing round, 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.
On September 14th, Solana-based mining project Ore announced on X that it had established Regolith Labs and completed a $3 million seed financing round, 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 liquidity networks on Solana, bringing millions of new users into the cryptocurrency space.
On September 10th, the Ethereum scaling solution t1 protocol completed a $2.5 million pre-seed financing round, with participation from a16z Crypto Startup School (CSX), Espresso, Frax, CowSwap, ETHGlobal, ENSO, INJECTIVE, as well as angel investors Guy Wuollet, AliYahya, and Eric Chen.
The t1 protocol is a fast finality scaling solution for Ethereum that supports real-time proof generation to unify Ethereum.
On September 10th, the decentralized lending exchange (DLEX) Ammalgam announced the completion of a $2.5 million seed financing round, jointly led by Lightspeed Faction and Framework Ventures, with participation from Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, as well as angel investors Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander. The new funds will be used to drive the growth and development of the protocol, including expanding the core talent team and product development.
On September 11th, blockchain technology company Hyperbridge announced the completion of a $2.5 million seed financing round, led by the Web3 Foundation and Scytale Digital. Hyperbridge utilizes Polkadot's architecture to unlock new possibilities for decentralized applications (DApps) and improve the scalability and efficiency of the Web3 ecosystem.
On September 10th, the blockchain game development studio Orange Cap Games announced the completion of a $2 million Pre-Seed angel financing round, with participation from Igloo Inc, former Dapper Labs executive Amber, former CFO of ROBLOX Matt Finick, CEO of LayerZero Bryan Pellegrino, YGG founder Gabriel Dizon, co-founder of Crunchyroll Kun Gao, and others.
The funds from this round will be used for their upcoming trading card game Vibes, which has received IP support from Pudgy Penguins.
On September 13th, the gamified healthcare platform Universal Health Token (UHT) completed a $1.2 million Pre-Seed financing round, led by Animoca Brands, Polygon Ventures, and the Tezos Foundation.
On September 10th, Zada Finance, a cross-rollup order book DEX built on Scroll, announced the completion of a new financing round, with participation from Cryptia Capital, NovaSeed Ventures, Pulse Capital, Axium Partners, Digitata Capital, Hivemind Ventures, and others. The specific amount and valuation information have not been disclosed. The new funds will drive its transition from an AMM DEX to an order book model, while also exploring Layer3 solutions and account abstraction to improve user experience, aiming to aggregate liquidity between different Rollups and address fragmentation issues through cross-rollup solutions.
Titan Network completes seed financing round, led by Arrington Capital
On September 11th, the decentralized infrastructure network (DePIN) newcomer Titan Network announced the completion of a seed financing round. The round 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 dedicated to building an open, efficient, and secure digital resource network that matches community idle resources with global demand. This financing round will further drive Titan Network's technological 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's AWS cloud services.
Eigenpie completes seed financing round, with participation from Arbitrum Foundation and PancakeSwap
On September 13th, the Ethereum liquidity re-staking protocol Eigenpie announced strategic investment and completion of a seed financing round. The specific amount has not been disclosed. Participants include the Arbitrum Foundation, Robot Ventures, PancakeSwap, Relayer Capital, as well as Gracy Chen, CEO of Bitget, Sam Kazemian, founder of Frax Finance, Angel Xu, co-founder of Zircuit, and coinflipcanada, a core contributor to GMX. The new financing will support the long-term development of EigenLayer liquidity re-staking.
Carbon-neutral blockchain platform OFP completes seed financing round, led by Übermorgen Ventures
On September 13th, the carbon-neutral blockchain platform Open Forest Protocol (OFP) completed a seed financing round, led by Übermorgen Ventures, with participation from BackBone Ventures, GS Futures, as well as the Bloom Foundation, NEAR Foundation, and Foundation Valery. The specific amount of financing has not been disclosed.
Derivatives trading platform Derive completes angel financing round
On September 13th, the derivatives trading platform Derive (formerly Lyra) announced the completion of an angel financing round, with participation from DCFGOD, Rok Kopp, co-founder of EtherFi, SPREEK, and others. Derive is a decentralized cryptocurrency options and perpetual contract trading platform that supports various financial applications and products for integrators, traders, and institutions.
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