Compilation: Biscuit, RootData
According to incomplete statistics from RootData, from October 2nd to October 8th, 2023, a total of 12 public financing events occurred in the blockchain and crypto industry, with a cumulative financing of approximately $77.55 million, and the primary market continued to be sluggish.
Popular financing projects include the Web3 restaurant loyalty application Blackbird, which completed a $24 million Series A financing led by a16z Crypto, and the Web3 social protocol Phaver, which completed a $7 million financing with participation from Polygon Ventures.
According to RootData's statistics, there were a total of 77 financing events in September this year, with a cumulative financing of approximately $505 million, making it the lowest funding month in recent years. In September of last year, the crypto sector raised $1.848 billion in 138 rounds of financing, a year-on-year decrease of 72%. In terms of the race track, infrastructure is in the lead, followed by gaming and DeFi.
Previously reported, the financing amount in the crypto market in June this year was $520 million, which was already a new low in recent years.
(List of projects that completed financing last week, data source: Rootdata)
I. Infrastructure
1. Privacy infrastructure provider Fairblock completes a $2.5 million pre-seed round of financing, led by Galileo
Privacy infrastructure provider Fairblock completed a $2.5 million pre-seed round of financing, led by Galileo, with participation from Lemniscap, Dilectic, Robot Ventures, GSR, Chorus One, Dorahacks, and Reverie, among others. Fairblock aims to make conditional decryption and pre-execution privacy a reality, where conditional decryption allows users to set conditions for protocols to execute transactions without leaking any on-chain information before execution. (Source link)
2. Blockchain product development company Trinetix completes $10 million strategic financing
Blockchain product development company Trinetix announced a $10 million strategic investment from the investment fund Hypra, enabling Trinetix to further expand into Latin America, enhance its operations for North American clients, and expand its market in Latin America.
Trinetix primarily provides blockchain engineering solutions, smart automation services, and cloud support to global enterprises, with clients including Coca-Cola, Procter & Gamble, and ExxonMobil. The team is currently distributed across Ukraine, the EU, and the United States. (Source link)
II. CeFi
1. Crypto startup Ostium Labs completes a $3.5 million financing, with participation from General Catalyst and others
Cryptocurrency startup Ostium Labs raised $3.5 million to develop a digital commodity perpetual swap protocol, with participation from General Catalyst, LocalGlobe, SIG, and Balaji Srinivasan, among others. It aims to attract traditional commodity traders and local cryptocurrency traders by providing transparent and flexible alternatives for trading assets such as oil, bitcoin, and forex. (Source link)
2. Kraken acquires Dutch cryptocurrency broker Coin Meester BV (BCM)
Cryptocurrency exchange Kraken announced the acquisition of the Dutch cryptocurrency broker BCM, with the proposed acquisition aimed at strengthening Kraken's business in the Netherlands and benefiting BCM's clients with a wide range of product offerings, market-leading liquidity, excellent security standards, and 24/7/365 real-time customer support.
III. DeFi
1. On-chain credit risk management company Cicada Partners completes a $9.7 million Pre-Seed round of financing, led by Choppa Capital
On-chain credit risk management company Cicada Partners completed a $9.7 million Pre-Seed round of financing, led by Choppa Capital, with participation from Bitscale, Bodhi Ventures, and Shiliang Tang. The funds raised will be used to provide seed funding for multiple new non-custodial lending pools and to conduct research and development on new blockchain lending application use cases. (Source link)
2. Solana-based crypto trading platform Convergence RFQ completes a $2.5 million Pre-Seed round of financing
Solana-based crypto trading platform Convergence RFQ completed a $2.5 million Pre-Seed round of financing at a $30 million valuation, led by C² Ventures, with participation from Big Brain Holdings, the Israel Blockchain Association, and Auros Global, among others, using the future token protocol SAFT. Convergence RFQ is currently building its platform on Solana and plans to support Arbitrum, expected to launch early next month. (Source link)
3. Accumulated Finance completes a private round of financing, with participation from Curve and others
Liquidity staking platform Accumulated Finance V2 has completed a private round of financing, with participation from De Facto Capital, Curve Finance, and Stake DAO. The amount of financing has not been disclosed. Accumulated Finance V2 provides incentivized liquidity staking and DeFi pools for mid- to low-cap equity proof protocols, managed by the ACFI token, expected to launch in early 2024. (Source link)
IV. Social
1. Web3 social protocol Phaver completes a $7 million financing, with participation from Polygon Ventures
IV. Social
1. Web3 social protocol Phaver completes a $7 million financing, with participation from Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor, and Superhero Capital.
According to reports, the new funds will be used to expand the team, product development, and other partnerships. Phaver aims to help users easily join Web3 social platforms, providing a Web3 onboarding experience similar to existing social platforms. Phaver has integrated its technology or "social graph" with the decentralized social network ecosystem Lens Protocol and the Web3 social network CyberConnect. (Source link)
V. Gaming
1. GameFi platform NexGami completes a $2 million seed round of financing, with participation from Polygon Ventures.
The Polygon-based GameFi platform NexGami (formerly known as Light eSports and MetaVirus Games) announced the completion of a $2 million seed round of financing at a post-money valuation of $20 million, with participation from Polygon Ventures, Fundamental Labs, and Ledger Capital, among others. NexGami is committed to providing seamless integration solutions and enhancing the gaming experience for users on the Polygon network. (Source link)
VI. Others
1. Web3 restaurant loyalty application Blackbird completes a $24 million Series A financing, led by a16z Crypto.
Blackbird announced the completion of a $24 million Series A financing, led by a16z Crypto, with other investors including Amex Ventures, QED Investors, Union Square Ventures, Shine, Variant, and various restaurant groups.
According to the crypto data platform RootData, Blackbird previously completed an $11 million seed round of financing, co-led by Union Square Ventures, Shine Capital, and Multicoin Capital. Blackbird is a web3 platform designed for the restaurant industry, focusing on establishing direct connections between restaurants and guests through loyalty and membership services. Additionally, the company's founder is Leventhal, who previously co-founded two restaurant industry startups: Eater and Resy. Eater was acquired by Vox in 2013, and Resy was acquired by American Express in 2019. (Source link)
2. AI-driven digital human service provider Prins AI completes a $100 million Series B financing, led by AAB VC.
AI-driven digital human service provider Prins AI completed a $100 million Series B financing, led by AAB VC. The new funds will strengthen Prins AI's financial position and support its ongoing research and development work. The Prins AI platform uses blockchain technology and smart contracts to record AI digital human training and application behavior, and employs a cryptocurrency reward mechanism to involve users in AI digital human training programs.
Previously, Prins AI completed a $22 million Series A+ financing, with specific investors yet to be disclosed. The company's Series A financing amount was $10 million, with investors including Base 10, Kleiner Perkins, and Paradigm. (Source link)
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