Financing Weekly Report | 23 public financing events; blockchain interoperability developer Union Labs completes $12 million Series A financing.

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4 months ago

Highlights

According to incomplete statistics from PANews, there were 23 financing events in the global blockchain sector last week (12.2-12.8), with a total funding scale exceeding $135 million, remaining basically flat compared to the previous week. The overview is as follows:

  • DeFi announced 6 financing events, including blockchain platform Haven1, which completed $4.6 million in private placement financing, with participation from Animoca Brands and others;
  • Web3 Gaming announced 1 financing event, with the technology platform Playgama, focused on HTML5 game distribution, completing $3 million in financing, led by The Open Platform (TOP) and s16vc;
  • AI announced 5 financing events, including Singapore-based Web3 AI agency Earos, which announced $10 million in Pre-Seed financing, led by Lemon Ltd.;
  • Infrastructure and Tools announced 3 financing events, with blockchain interoperability project developer Union Labs completing $12 million in Series A financing, led by Gumi Cryptos Capital and Longhash Ventures;
  • Other Blockchain/Crypto Applications announced 2 financing events, including blockchain-based drone imaging network Spexi, which announced $11.5 million in Series A financing on its official website, led by Blockchange Ventures;
  • Centralized Finance announced 5 financing events, including Swiss digital finance platform Brighty, which raised $10 million from Futurecraft Ventures in a financing round supporting crypto card payments.

DeFi

Blockchain platform Haven1 completes $4.6 million financing, with participation from Animoca Brands and others

Blockchain platform Haven1 completed $4.6 million in private placement financing, with participation from Animoca Brands and KuCoin Ventures. The funds aim to enhance Haven1's blockchain infrastructure. The project is dedicated to improving decentralized finance and tokenizing real-world assets, reporting over 475,000 users on its testnet.

Lending protocol Suilend completes $4 million financing, led by Robot Ventures

Decentralized lending protocol Suilend announced it has completed $4 million in financing, having previously raised $2 million earlier this year. This round was led by Robot Ventures, with participation from several venture capital firms and angel investors. Suilend founder Rooter stated that this financing will help the team maintain operations during a potential long-term bear market, ensuring ample funding for the next four years. Suilend is the second-largest DeFi protocol on the Sui chain, with a total locked value (TVL) close to $470 million, and is also the largest lending protocol on the chain. Additionally, Suilend plans to launch its new token SAVE in the coming days while continuing to expand its core product suite, including the recently launched liquid staking token project and the upcoming automated market maker (AMM).

DeFi infrastructure provider SuperFi Labs completes $2.5 million Pre-A financing

DeFi infrastructure provider SuperFi Labs announced it has completed $2.5 million in Pre-A financing, led by Linklogis, with participation from SNZ, Taiko, and ByteTrade, following seed funding from Generative Ventures. SuperFi Labs is a DeFi innovation lab aiming to attract more users to decentralized finance by providing real-world asset (RWA) products on the asset side and DeFi solutions on the funding side. Its projects include the liquidity protocol Sake Finance on Soneium and the platform AgentFi utilizing smart chain agents. Furthermore, SuperFi is collaborating with Linklogis to develop an RWA platform to enhance channels for decentralized supply chain finance.

DeFi.app completes $2 million seed round financing, led by Mechanism Capital

DeFi.app completed $2 million in seed round financing, achieving a valuation of $100 million. This round was led by Mechanism Capital, with participation from Selini Capital, North Rock Digital, and about 50 angel investors. The financing was completed through a Simple Agreement for Future Tokens (SAFT) structure, reflecting the fully diluted valuation of DeFi.app's yet-to-be-launched native token HOME. DeFi.app aims to be the "Robinhood of DeFi," simplifying decentralized finance transactions while maintaining self-custody of assets. Users can perform one-click cross-chain transactions, access decentralized derivatives markets and yield opportunities, and avoid gas fees without bridging or KYC verification. Founder Greer revealed that the platform's public beta will launch this month, with the mainnet and HOME token expected to be released in the first half of next year. Additionally, DeFi.app plans to conduct a token airdrop and expand its team.

Liquidity solution SecondSwap completes $1.2 million seed round financing, with participation from Animoca Ventures and others

Liquidity solution SecondSwap announced it has completed $1.2 million in seed round financing, with participation from GSR, Animoca Ventures, E4 Capital, Yellow Capital, BCW Group, HGEN DAO, ARC Community, Nonco, and Libra Capital. The funds will primarily be used to expand SecondSwap's market functionality. SecondSwap provides an automated over-the-counter trading market for illiquid assets. It supports token diversification, risk management, and transparent trading through smart contracts, currently testing on Ethereum and planning multi-chain expansion. SecondSwap's mainnet is set to launch in January 2025.

Decentralized protocol Prosper completes strategic round financing, with participation from Metalpha and others

Decentralized protocol Prosper announced it has completed strategic round financing, with participation from Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol, with specific amounts not disclosed. Prosper aims to tokenize institutional-grade Bitcoin hash rate into full-chain RWA to unlock Bitcoin's potential. Previously, Animoca Brands announced plans to increase its holdings in Prosper's PROS token through the public market.

Web3 Gaming

HTML5 game distribution technology platform Playgama completes $3 million financing, with participation from TON Ventures and others

Technology platform Playgama, focused on HTML5 game distribution, announced it has completed a new round of financing totaling $3 million, led by The Open Platform (TOP) and s16vc, with participation from FJ Labs, The Games Fund, TON Ventures, Velo Partner, and Unlimit CEO Kirill Evesas. The new funds will be used to expand its platform-as-a-service (PaaS) ecosystem and game distribution platform, providing monetization tools, quality assurance, and game management solutions. The Open Platform's executive partner Andrey Klebanov stated that Playgama can help developers seamlessly publish their games as Telegram mini-programs and browser-based experiences, thereby creating opportunities to explore fintech innovations.

AI

Web3 AI agency Earos completes $10 million Pre-Seed financing

Singapore-based Web3 AI agency Earos announced it has completed $10 million in Pre-Seed financing, led by Lemon Ltd. Earos is a platform that utilizes digital twin technology to unlock the potential of AI agents, currently building a decentralized AI ecosystem (Digital Twin Earth) that integrates AI agent model layers, allowing global nodes to collaborate on AI model training, deployment, and validation. Developers can also create and deploy their own AI agents, and the project will use tokens to reward participants providing computing power, validating AI agent workstations, and running nodes.

Crypto AI company GAIB completes $5 million Pre-Seed round financing, led by Hack VC

Crypto AI startup GAIB, focused on GPU tokenization, has completed $5 million in Pre-Seed round financing. This round was led by Hack VC, with co-leads from Faction VC and Hashed, and other investors including Spartan, Animoca Brands, MH Ventures, Aethir, and Near Foundation. GAIB aims to provide more liquidity and accessibility for AI computing by tokenizing GPU assets. GAIB has completed prototype development and will launch a pilot project this month, with plans to release an Alpha product and platform token in the next two months. The platform will support multiple blockchains, including Ethereum, Base, and BNB Chain. Based in Singapore, GAIB currently has 19 employees and plans to further expand its team to drive research and market promotion.

AI company Sekai based on Story Protocol completes $3.1 million seed round financing, led by Hashed

Generative AI storytelling startup Sekai announced it has raised $3.1 million in seed round financing led by Hashed. Sekai aims to leverage Story Protocol to turn storytelling into a "multiplayer experience," allowing aspiring storytellers to co-create with others using generative AI on its platform. At the same time, Sekai hopes to provide creators with the ability to protect their intellectual property and profit from their creations.

Decentralized AI investment strategy analysis platform OpenPad AI completes $2 million financing

Decentralized AI investment strategy analysis platform OpenPad AI announced it has completed $2 million in financing, led by Basics Capital, with participation from Protein Capital, Spicy Capital, Green Arrow Adventures, VivaTech Ventures, Brinc, Boba Network, Avalon Wealth Club, Coin Bold, TechFarm, and others. OpenPad AI is a data-driven investment strategy platform that utilizes decentralized AI analysis, combining blockchain technology with artificial intelligence, allowing users to access investment strategies, project ratings, and real-time market insights while maintaining control over their data.

Scrypted completes $1.5 million financing to develop Web4 autonomous AI agents and Inori network

AI and Web3 startup Scrypted announced it has completed $1.5 million in seed round financing, led by Palm Tree Crew Crypto, with participation from a16z crypto CSX. The funds will be used to develop fully decentralized autonomous AI agents (AVBs) and the Inori network, ushering in the "read-write-own-act" era of Web4. The Inori network aims to provide decentralized computing, storage, communication, and financial infrastructure for AI agents, transforming them from passive tools into self-managing digital entities applicable in social, gaming, and financial domains. Scrypted plans to support the construction of a decentralized AI ecosystem through the open-source AI development tool ArtemisML and SDK, exploring technologies such as decentralized consensus mechanisms to further advance the realization of Web4.

Infrastructure & Tools

Blockchain interoperability developer Union Labs completes $12 million Series A financing

Blockchain interoperability project developer Union Labs announced it has completed $12 million in Series A financing, led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital and angel investors from the Polygon, Celestia, Movement, and Berachain communities. This round of financing will be used to expand the team, advance partner integration, and build the ecosystem. Union's core product is a modular zero-knowledge interoperability layer designed to simplify asset flow between the Ethereum and Cosmos ecosystems. Its mainnet is scheduled to launch in early 2025, while also addressing cross-chain limitations in the Bitcoin ecosystem to promote the development of Bitcoin L2 and multi-chain DeFi.

Bitcoin ecosystem project BLIFE Protocol completes $7 million financing, with participation from Animoca Brands and others

The decentralized ecological protocol BLIFE Protocol, based on Bitcoin, announced it has completed $7 million in financing, with investors including UTXO Management, Bitcoin Frontier Fund, NewTribe Capital, Cypher Capital Group, Digital Consensus Fund, PG, OIG Capital, Animoca Brands, LondonReal Ventures, Citizen Capital, B2C2, Aspen Digital, GSR Ventures, Delta Blockchain Fund, and G20 Group. BLIFE is a decentralized ecological protocol based on the Bitcoin blockchain, aimed at integrating Web3 applications and cultural experiences. It offers BLIFE.ID, a digital identity system that connects Bitcoin wallets and protects exclusive .BLIFE domain names, allowing access to decentralized applications, social networks, and marketplaces. The ecosystem is supported by the BLIFE token, facilitating transactions and interactions across various digital platforms.

Bitcoin and ZK infrastructure company Fiamma completes $4 million seed round financing

Bitcoin and ZK infrastructure company Fiamma has completed $4 million in seed round financing, led by Lightspeed Faction and L2IV, with participation from Astera Ventures, Contribution Capital, Sats Ventures, Chapter One, and FoundersHead. The investment also includes participation from major strategic investors in the Bitcoin infrastructure space, such as BOB (Build on Bitcoin), as well as various angel investors including founders of Satlayer and Daedalus. Fiamma is dedicated to transforming Bitcoin into a dynamic programmable asset. It is unlocking practical use cases for Bitcoin, turning it into a dynamic asset and the foundation for decentralized internet and financial systems. Fiamma's products include the Bitcoin bridge Fiamma Bridge and the Bitcoin ZK verification layer Fiamma Layer powered by BitVM2.

Others

Blockchain drone imaging network Spexi completes $11.5 million Series A financing, led by Blockchange Ventures

Blockchain-based drone imaging network Spexi announced on its official website that it has completed $11.5 million in Series A financing, led by Blockchange Ventures, with participation from Moonshots Capital and Protocol Labs. Spexi has developed a blockchain-based "Fly to Earn" network, helping participants in the drone market capture standardized ultra-high-resolution aerial data using Spexi's autopilot software and earn rewards. It also combines drone-captured images with cost-effective blockchain image integrity preservation capabilities, with its business currently covering Canada, the United States, Mexico, and the United Kingdom.

Web3 communication platform Dechat secures $1 million strategic investment

Web3 communication platform Dechat has received a $1 million strategic investment from Mindspace Solutions. DeChat is an open Web3 communication protocol, primarily used in regions such as Japan and the Middle East. It enables users to seamlessly chat, discover, and trade digital assets within and across applications. DeChat's design leverages blockchain technology to ensure privacy and security, with features including encrypted group communication, push notifications, and a decentralized ID system supporting various media types.

Centralized Finance

Multi-asset investment platform Public completes $135 million D-2 round financing, led by Accel

Multi-asset investment platform Public announced it has completed $135 million in D-2 round financing, of which $105 million is equity financing and $30 million is debt financing, led by Accel. Since its launch in 2019, Public has evolved from a "social stock trading app" into a comprehensive investment platform supporting five major asset classes, including cryptocurrencies, with its core brokerage business achieving profitability and deposits reaching billions of dollars annually. Its AI assistant Alpha is used by over 90% of users, facilitating a quarter of interactions to complete trades within three hours, with average user profits increasing for three consecutive years. The company plans to expand into more asset classes and AI functionalities.

(Note: The D-2 round financing completed by Public is not included in last week's total financing amount.)

Digital finance platform Brighty, supporting crypto card payments, completes $10 million financing

Swiss digital finance platform Brighty, which supports crypto card payments, raised $10 million from Futurecraft Ventures in a financing round. Brighty was founded in 2021 and integrates cryptocurrency with fiat banking services, aiming to provide users with a seamless digital banking experience. This personal finance application combines traditional digital banking with the functionalities of stablecoins and decentralized finance. The platform offers European IBAN accounts and issues physical and digital VISA cards, as well as Ethereum, Tron, Polygon, and Arbitrum-hosted addresses. Users can exchange cryptocurrencies for euros, dollars, pounds, and other currencies, send money to friends and family, or shop online and offline.

Digital asset management platform Interlace completes $10 million B1 round financing, led by Bitrock Capital

Digital asset management platform Interlace announced it has completed $10 million in B1 round financing, led by Bitrock Capital, with participation from several senior professionals from top fintech companies such as Klarna and Robinhood. The funds will be used to expand the team, enhance services, and advance market expansion in the Asia-Pacific region, the United States, and the United Kingdom. To date, Interlace has issued over 4.5 million cards and collaborates with more than 100 partners, processing over 60 million transactions annually.

HUB2 completes $8.5 million Series A financing, aiming to become the "Stripe of Francophone Africa"

Ivorian fintech company HUB2 has completed $8.5 million in Series A financing, led by pan-African early-stage investment firm TLcom Capital, with participation from FMO, Enza Capital, Bpifrance, and Thunes founder Eric Barbier, among others. HUB2 is dedicated to providing a unified payment infrastructure for Francophone Africa, simplifying mobile payments, bank transfers, card payments, and cryptocurrency transactions through a single API for payment interoperability. Founder Ashley Gauzere stated that the company aims to address the fragmentation of payments in Francophone Africa and is currently serving 55 fintech companies, including Wave, Orange, and MTN. This year, HUB2's transaction volume is expected to reach €1 billion, a significant increase from €70 million in 2022. In the future, the company plans to launch cross-border payment and stablecoin-based remittance services and expand its market coverage in Africa.

Decentralized technology company Binary Holdings completes $5 million strategic financing

Decentralized technology company Binary Holdings announced it has received $5 million in strategic investment from ABO Digital. Based in Dubai, UAE, Binary Holdings has a global user base of 169 million and is committed to creating an open, interoperable network for digital commerce. The company plans to launch its digital bank, Millenia, in the second quarter of 2025.

Digital asset management platform LSP.Finance completes $1 million seed round financing

Digital asset management platform LSP.Finance has completed $1 million in seed round financing, achieving a valuation of $33 million. This round was led by Cryptogram Venture (CGV), WAGMi Ventures, K24 Ventures, CatcherVC, XLink Labs, and LandScape Capital. LSP.Finance is a user-centric digital asset management platform that provides a one-stop solution for high liquidity and seamless blockchain interactions.

Investment Institutions

Pantera Capital raises $20 million to invest in blockchain TON related to Telegram

According to a document submitted to the U.S. Securities and Exchange Commission, crypto hedge fund and venture capital firm Pantera Capital has raised $20 million to invest in the cryptocurrency Toncoin associated with TON. The document states that the venture capital firm raised funds from at least 29 investors through two different funds. The initial formal sales of these two funds took place in July. Pantera Capital began reaching out to investors in June, with a minimum investment amount of $250,000. The two new funds established by Pantera Capital for Toncoin are built on the early investment foundation announced in May related to the cryptocurrency associated with Telegram. The company described this investment as the "largest" in its 21-year history, but did not disclose specific details.

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